African operations resume for mining firm Kenmare following machinery repairs
Dublin-based mining firm Kenmare Resources has returned part of its operation on Mozambique to full production capacity after completing repairs to machinery that had been damaged by fire.
Kenmare operates a large ilmenite mine at Moma in the east African country. Ilmenite is processed to make titanium dioxide, which is used in the manufacture of products such as paint and plastic.
Some equipment was damaged last month during a fire at part of the mine that broke out after routine welding was completed. That slowed supply of so-called heavy mineral concentrate. While one part of the equipment has been fully repaired, repairs to the second will be completed within the next day.
Kenmare, whose shares have slumped recently due in part to concerns about demand for its output, is valued on the Dublin stock market at €634m. A year ago it was valued at over €1bn.
Output from the Moma mine – much of which ends up being used in China – is classed as ‘mineral sands’.