11 March 2015

Kenmare Resources (LSE: KMR, ISE: KMR), one of the leading producers of titanium minerals, which operates the Moma Titanium Minerals Mine (the "Mine" or "Moma") in northern Mozambique, provides an operational update.

Recent flooding in Nampula Province in northern Mozambique has resulted in damage to the power line between the Moma Mine and the city of Nampula, causing an interruption to the supply of grid power to the Mine. The power failure occurred when the Meluli River burst its banks, compromising the overhead line. A temporary repair was recently carried out in this location following a previous storm and as a result some of the materials necessary for repair are already at site with additional supplies to follow. A joint Kenmare and Electricidade de Moçambique team has been mobilised to begin repairs as the flooding subsides.

In the meantime, the diesel generators have continued to operate and the Mine has been processing HMC stocks, magnetic and non-magnetic concentrate stocks, and exporting product. It is expected that the available power will be used to alternate supply between the Mineral Separation Plant and Wet Concentrator Plant B in a series of campaigns until grid power is restored.

The effect of the power outage will be mitigated due to the significant levels of ilmenite product inventories on hand. The Company has recently secured additional off-take volumes with a new ilmenite customer for the product that makes up the bulk of the inventories on hand at Moma.  

The Company will provide further updates in due course.


For further information, please contact:


Kenmare Resources plc
Michael Carvill, Managing Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0110


Tony McCluskey, Financial Director
 Tel: +353 1 671 0411
Mob: + 353 87 674 0346


Jeremy Dibb, Corporate Development and Investor Relations Manager
Tel: +353 1 671 0411
Mob: + 353 87 943 0367 


Murray Consultants 
 Joe Heron
Tel: +353 1 498 0300
Mob: +353 87 690 9735

Buchanan
 Bobby Morse / Gordon Poole
Tel: +44 207 466 5000 


The Directors of Kenmare accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.


This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside Ireland or the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.


A person interested in 1% or more of any class of relevant securities of Kenmare or Iluka may have disclosure obligations under Rule 8.3 of the Irish Takeover Rules, effective from 26 June 2014, the date of the commencement of the offer period for Kenmare under the Irish Takeover Rules.

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