Kenmare Resources Wcp B Move Update

 
TIDMKMR 
 
 
   Kenmare Resources plc ("Kenmare" or "the Company") 
 
   15 September 2020 
 
   WCP B Move Update 
 
   Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global 
producers of titanium minerals and zircon, which operates the Moma 
Titanium Minerals Mine in northern Mozambique, is pleased to announce 
that the relocation of Wet Concentrator Plant ("WCP") B, is underway. 
 
   Kenmare previously announced three development projects that together 
have the objective of increasing annual ilmenite production to 1.2 
million tonnes (plus co-products) on a sustainable basis from 2021, with 
the move of WCP B to the high grade Pilivili ore zone being the final 
project. The increased production is expected to significantly lower 
cash operating costs to between US$125 and US$135 per tonne (in 2020 
real terms). Consequently, from 2021 the Group expects to be positioned 
in the first quartile of the industry revenue to cost (or margin) curve, 
supporting stronger free cash flow generation and providing for 
increased shareholder returns. 
 
   WCP B is being moved 23 kilometres from its previous mining area at 
Namalope to a new high grade ore zone called Pilivili. It is being 
transported along a purpose-built road using platform vehicles called 
self-propelled modular transporters ("SPMTs"). The relocation of WCP B 
and its dredge are being undertaken by a global specialist heavy lifting 
and transport contractor. For more information on how the relocation is 
being undertaken, please view this animation 
https://www.globenewswire.com/Tracker?data=zcqGCbFmqxBkmuWi7zm9tDhD_YbZwJ6c2C0Ht6HUHHjUVV33JurokLGH-Ou1Tqv4pgKvn8BaysMSZtcLVwCWGQ== 
. 
 
   Mining at Namalope completed in late August. The WCP and its associated 
dredge have now been successfully placed on the concrete plinths in the 
relocation pond and the pond has been dewatered. The dredge and the WCP 
are to be moved in two stages. The first stage involves the movement of 
the dredge, this is now underway and expected to be completed this week. 
Once the dredge has been relocated to Pilivili, the SPMTs will return to 
Namalope to transport the WCP along the same route. The physical 
relocation is expected to be completed in the next few weeks. 
 
   Mozambican media are coming to site today and photographs and videos of 
the initial stages of the relocation of the dredge are available on 
Kenmare's website 
https://www.globenewswire.com/Tracker?data=Zma_HSRlG80XINvcjvStOmfqsCpcXzEXQDvsjHBT4EkL7hWzRfxfM1xeEBxz2yIzA6SObnZhik6H1dP0L4E1DDw3MEbjfX0Bw5ennKtKyMmh2mwsCiKH4HMiyNgUM65p 
. Kenmare will update its website and Facebook 
https://www.globenewswire.com/Tracker?data=JA710V4nwMDqrT4XVwu0XZRiWA32uJJwlTimYdC2TMh7NbrNU5iDqqMudiPJJihjEepoQTo4vCo67g4rSXzpc0eyHnihAsWutgOfq4sDL4s= 
, LinkedIn 
https://www.globenewswire.com/Tracker?data=EScK9SL_9G1s9h1stdQpSW9LtqqWXHIbJYs2tS2n0X-d5PLBSa3rQeYsG8GqRzYiPmZYNBCXg30QeDXvbRKQC-wfHmJIGdWEoTY3s7JC88ObuADwXnSzadaFPf4REFPs 
and Twitter 
https://www.globenewswire.com/Tracker?data=OtiZEuxdl1D4-C1uAr86_l1w-H4lDcJ0OcN89gpXuTILQGTPZv1swoINM_AUYmv2TewSKM0Ecg9GRs1dDWw7vQ== 
feeds with photographs and videos throughout the move. 
 
   Statement from Michael Carvill, Managing Director: 
 
   "The relocation of WCP B and its dredge form the third and final project 
of our development programme to increase Moma's ilmenite production to 
1.2 million tonnes per annum on a sustainable basis. Once WCP B and the 
dredge reach Pilivili we will begin the process of re-establishing them 
in their new location and we expect mining to commence at Pilivili 
during Q4 2020. I look forward to providing further updates as the 
project progresses." 
 
   For further information, please contact: 
 
   Kenmare Resources plc 
 
   Jeremy Dibb / Katharine Sutton 
 
   Investor Relations 
 
   Tel: [phone] 
 
   Mob: + 353 87 943 0367 / + 353 87 663 0875 
 
   Murray (PR advisor) 
 
   Joe Heron 
 
   Tel: [phone] 
 
   Mob: [phone] 
 
   About Kenmare Resources 
 
   Kenmare Resources plc is one of the world's largest producers of mineral 
sands products. Listed on the London Stock Exchange and the Euronext 
Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. 
Moma's production accounts for approximately 7% of global titanium 
feedstocks and the Company supplies to customers operating in more than 
15 countries. Kenmare produces raw materials that are ultimately 
consumed in everyday "quality-of life" items such as paints, plastics 
and ceramic tiles. 
 
 
 
 

(END) Dow Jones Newswires

September 15, 2020 02:00 ET (06:00 GMT)

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