Kenmare Resources (“KMR”) announced a cut to its production guidance for 2022 late last week following unplanned power outages at Moma. After a solid Q3, KMR reported a strong October with nameplate ilmenite output of 1.2Mtpa achieved over the month. However, more recently, problems beyond KMR’s control on the Mozambican electricity transmission grid have led to reduced production of Heavy Mineral Concentrate (“HMC”). With HMC stock levels already low, this appears to have hampered KMR’s ability ....
28 Nov 2022
Kenmare Resources: 2022 production guidance cut after unplanned power outages; H&P target lowered 1.4% to 730p
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Kenmare Resources: 2022 production guidance cut after unplanned power outages; H&P target lowered 1.4% to 730p
Kenmare Resources Plc (KMR:LON) | 318 12.7 1.3% | Mkt Cap: 283.3m
- Published:
28 Nov 2022 -
Author:
Roger Bell -
Pages:
6
Kenmare Resources (“KMR”) announced a cut to its production guidance for 2022 late last week following unplanned power outages at Moma. After a solid Q3, KMR reported a strong October with nameplate ilmenite output of 1.2Mtpa achieved over the month. However, more recently, problems beyond KMR’s control on the Mozambican electricity transmission grid have led to reduced production of Heavy Mineral Concentrate (“HMC”). With HMC stock levels already low, this appears to have hampered KMR’s ability ....