25th Jul 2005 07:00
Kenmare Resources PLC25 July 2005 Kenmare Resources plc ("Kenmare" or "the Company") Good Progress on Kenmare's Moma Titanium Mineral Sands Project Construction Ahead of Schedule The board of Kenmare is pleased to announce that, as of the end of June,construction of the Moma Titanium Mineral Sands Project was 28% completed andahead of schedule. Completion is currently anticipated in late September 2006,some six weeks earlier than the contractual programme. Satisfactory progress is being made across all areas of the project and themajority of "big-ticket" items have already been ordered. The 1600m longairstrip has been completed and is already in use transporting staff betweenMoma and Johannesburg. Bulk earthworks are nearly complete and civil works areprogressing well. The first concrete pour took place in June as foundations were prepared for thearrival of the ex-Beenup plant from Western Australia. This dismantled plantdeparted Bunbury Port in Australia on board two 100m long ocean-going barges,both of which have already arrived at Moma. The offloading of one barge is 50%complete and the second barge is waiting off-shore. Construction of infrastructure, such as the mine village and 170 kms of overheadpower line, is well advanced, and an order will be placed this month with ashipyard for the construction of the 75m long product transportation barge,whose design has been recently completed. The board remains confident that further good progress will be made in thecoming months, both in terms of construction and of the marketing of Moma'soutput. The board of Kenmare is also pleased to announce the signing of another 5 yearmarketing contract with a major consumer for anticipated production from itsMoma Project in Mozambique. While full details of this latest contract cannot bedisclosed, the pricing structure is comfortably above levels anticipated inKenmare's financing plan. A full update of progress on the Moma Project will be given at the CompanyAnnual General Meeting today. For further information, please contact: For more information: Kenmare Resources plcMichael Carvill, Managing DirectorTel: + 353 1 671 0411Mob: + 353 87 674 0110 Conduit PR Ltd Leesa Peters/Pam SpoonerTel: + 44 (0) 207 618 8708Mob: + 44 (0) 781 215 9885 Murray Consultants Ltd Elizabeth HeadonTel: + 353 1 498 0300Mob: + 353 87 989 7234www.kenmareresources.com 25th July 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kenmare Resources