KMR Kenmare Resources Plc

RNS Number:0551F
Kenmare Resources PLC
4 February 2000

              Kenmare Resources plc ("Kenmare" or "the Company")              
         Study shows commerciality of Kenmare's Moma Titanium Project         


A Pre-Feasibility study showing that Kenmare's Moma Titanium Minerals Project
is commercial and will provide strong returns has been completed.  The study
details a mine producing 600,000 tonnes per annum of ilmenite (a titanium
mineral) along with associated co-products.  Revenues run for 20 years at
approximately US$80 million per annum with a cash operating margin of 75%. 
The project gives a rate of return on total monies invested (IRR) of 27% and a
payback period of 3.6 years.  The NPV at a 10% discount rate is US$213
million. If a debt package is assumed, the equity rate of return rises
substantially and the payback period is reduced. 

The mine plan utilises only 14 million tonnes of ilmenite from a total
resource of 48 million tonnes contained in Kenmare's licence area, providing
room for further expansion.  Minproc Engineering Ltd, an Australian based
engineering group, with specialist experience in titanium projects, performed
the study.

A Definitive Feasibility study is underway and will be completed before the
end of the year.  This will include detailed design for the placement of
construction contracts.  The development period has been considerably
shortened by Kenmare's purchase of a concentrator plant from BHP's Beenup
operation.  It is hoped that production can commence during 2002.

Michael Carvill Kenmare's MD said: "This is a very positive result from the
study.  We are delighted that our own view of the project has been born out by
independent examination.  We are looking forward to moving this project
vigorously through to early production".

For more information:

Tony McCluskey                         Jim Milton
Finance Director                       Public Relations Representative
Kenmare Resources plc.                 +353-1-6614666 or +353-86-2558400
+353-1-671 0411 or +353-87-6740346

END

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