Kenmare Resources plc (LSE:KMR) Managing Director Tom Hickey talked at the One2One Investor Forum about the company’s long-life Moma mineral sands operation in Mozambique, market conditions for ilmenite and zircon, and the completion of a major capital investment programme designed to support decades of future production.
Hickey described Moma as a “world-class resource” with more than 100 years of mineral resources remaining at the current production rate. He explained that Kenmare Resources has invested over $1.5 billion into the operation and is now nearing the end of a significant development programme, including upgrades to Wet Concentrator Plant A and preparations for the future Nataka ore zone, which represents more than 70% of reserves.
The discussion also covered mineral sands market dynamics, with Hickey highlighting improving conditions in zircon markets and early signs of stabilisation in ilmenite pricing after a difficult period for producers. He said: “We’re probably towards the bottom of the cycle at the moment,” while adding that some customers are already increasing demand under long-term contracts.
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