Kenmare Resources posts growth of 40 pct in Mozambique

31 January 2013

Revenues generated from heavy sands exploration by Irish company Kenmare Resources at Moma in Mozambique’s Nampula province, rose 40 percent year-on-year in 2012 to US$234.5 million, the company said in a statement issued Wednesday.

Last year total production of heavy mineral concentrates was 772,300 tons, including 574,400 tons of ilmenite and 46,900 tons of zircon. The company exported 680,800 tons of processed products.

“In the update issued by Kenmare on 28 November 2012, we noted the likelihood of a drop in quarterly production due to a combination of power outages and geo-technical challenges related to a rise in the water level of the dredging lagoon,” the statement said.

Kenmare Resources has been working with power company Electricidade to ensure a continuous power supply to its mining facilities.

In the fourth quarter of 2012, heavy sands exploration at Moma produced 157,000 tons of heavy mineral concentrates, compared to 229,100 tons in the previous quarter. (macauhub)