15th Aug 2025 12:30
(Alliance News) - Kenmare Resources PLC on Friday confirmed it remained in talks with the government of Mozambique regarding the renewal of rights and concessions for the company's Moma titanium minerals mine.
The Mozambique-focused producer of titanium minerals and zircon said the update was in response to recent media reports in Mozambique.
Kenmare said operations at Moma have continued as usual, and have not been affected by the discussions.
The mine's implementation agreement was made in 2002, and sets out the terms under which Kenmare conducts its mineral processing and export activities. This included rights and concessions for an initial period to December 21, 2024, with a right of extension for a further 20-year period.
Kenmare has been pursuing an extension with the government since late 2022, as well as potential term amendments.
The Ministry of Industry & Commerce confirmed Kenmare's existing rights and benefits remained in place while the extension process is ongoing, despite the initial expiry date having passed.
Further updates will be provided "in due course", the company said.
Shares in Kenmare Resources were up 1.6% at 340.00 pence in London on Friday afternoon. The stock remains down 2.6% over the past year.
By Emily Parsons, Alliance News reporter
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