Green light: Kenmare to move plant in Mozambique
Irish mining group Kenmare Resources has received final environmental approval for a purpose-built road to Pilivili by the Ministry of Land, Environment and Rural Development in Mozambique.
As part of its growth strategy to increase production to 1.2 million tonnes of ilmenite a year from 2021, Kenmare is relocating its wet concentrator plant (WCP) B to the high-grade Pilivili ore zone in the second half of next year.
Current levels of production are around 900,000 to a million tonnes a year.
Pilivili is the highest-grade ore zone in Kenmare's portfolio.
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Job Langbroek, analyst at Davy Stockbrokers, said the news "is positive for the stock and maintains the group's very solid performance in terms of delivery of capital projects".