Kenmare Resources finds rare mineral at its heavy sands project in Mozambique

19 November 2012

Irish company Kenmare Resources has found monazite, a raw material used to manufacture a variety of equipments, at its heavy sands concession in Topito, in Mozambique’s Nampula province, Mozambican daily newspaper Notícias reported.

Used to manufacture rechargeable batteries, televisions, mobile phones, hospital and automotive equipment, the monazite was also found at deposits in Namalope and Nataka, along with other rare minerals, including lanthanum and neodymium.

Before it is sold monazite is processed to a purity of 99 percent in the form of oxides or as a variety of alloys.

In the third quarter the company exported 155,000 tons of a variety of minerals mined at Moma. Kenmare’s net debt was reduced to US$239 million after investing US$600 million in its mining concession in Mozambique. (macauhub)