Kenmare Resources Wcp B Move Update: Plant Relocated Safely To Pilivili
September 28 2020 - 2:00AM
UK Regulatory
TIDMKMR
Kenmare Resources plc ("Kenmare" or "the Company")
28 September 2020
WCP B Move Update: Plant Relocated Safely to Pilivili
Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global
producers of titanium minerals and zircon, which operates the Moma
Titanium Minerals Mine in northern Mozambique, is pleased to announce
that Wet Concentrator Plant ("WCP") B has been relocated safely to
Pilivili.
Kenmare previously announced three development projects that together
have the objective of increasing annual ilmenite production to 1.2
million tonnes (plus co-products) on a sustainable basis from 2021. The
move of WCP B to the high grade Pilivili ore zone is the final of the
three projects. This increased production is expected to significantly
lower cash operating costs to between US$125 and US$135 per tonne (in
2020 real terms). Consequently, from 2021 the Group expects to be
positioned in the first quartile of the industry revenue to cost (or
margin) curve, supporting stronger free cash flow generation and
providing for increased shareholder returns.
WCP B and its dredge were moved 23 kilometres from their previous mining
area at Namalope to Pilivili. The move was undertaken in two stages,
with the dredge moved first, followed by WCP B. They were transported
along a 66 metre wide, purpose-built road using platform vehicles called
self-propelled modular transporters ("SPMTs") by specialist heavy
lifting and transport contractor Mammoet. The other key contractors for
the project include Hatch, Teichmann and Binvic. This is the only move
of this type expected to be required during WCP B's economic life.
Photographs of the move are available on Kenmare's
https://www.globenewswire.com/Tracker?data=-9uQ7l-ed5J3JON5GpJTcrQfpGUq0AJnjZvB3Cr3-t33joIgo3IIuGPtspSDh5NVnyWk6v5niVDdKJMaInfoEbuXLw8SHB54fZuhXxfI5Kntod-G4jOvICO6Yq1ygN_neTSR9v-DHMA5z8EYi1PKNcSxlOcjigUaMF6iEtrP6NifWt41fhGSzZRQduLAAhWEgScpEY0hlLh5MEKx9qrHNoX1jY_6W0jeQRbkemRtdptJbASsVCZ6dniPZuYPl4zbAaSG4D0iu1YoP_5BV6dB_Q==
website and on the Company's
https://www.globenewswire.com/Tracker?data=lov5GSjASUu_kuvbAlBmPNSLHmRd5ugpx7VHPiHaXgLOrGfkYzC4KOduW210-kSxcPWGJJo21ySrYJoHvNLYlFO0aKTu48eQ-il_r9KdFU-Y9gCQqHHNzvD1fy_XqYPEE4jISKAcZxgRdFSv7sjd6Rp64vgBvqA07OP8hOArKlevQDd4_Lx79wuM-hU85aySPSxajeyzVbNcibssBosQ_5jo0cyttJJh6GRN5DenIpwV16zjM0qLIady0fZO4dah
Facebook,
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LinkedIn or
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Twitter feeds, and this
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animation provides further information on how the move was undertaken.
WCP B and its dredge are now positioned safely on plinths in Pilivili
and the next stage is to float them across the Mualadi river and into
the starter pond. The establishment of associated infrastructure is
continuing and heavy mineral concentrate production from WCP B is
expected to begin in mid-Q4 2020. Kenmare will provide a further update
on WCP B in its Q3 production update, which is anticipated to be
announced in mid-October.
WCP B weighs approximately 7,100 tonnes, including ballast, and
measuring 24 metres high, 80 metres long, and 60 metres wide. It is the
heaviest piece of mining equipment to be moved in Africa to date. With
290 axles required to lift and transport WCP B, the move also represents
the most SPMT axles used in Africa to date and one of the largest moves
of a single piece of equipment in the world. The move was particularly
unusual due to the combination of the weight of the load and the length
of the distance travelled.
Statement from Michael Carvill, Managing Director:
"Moving the plant in one piece, an object weighing the equivalent of 550
double decker buses, taller than a seven-story building and wider than a
football pitch, is a huge achievement for our company. This type of
relocation is rare in the mining industry, but it was the correct choice
for Kenmare given the economic benefits and lower risk profile it
provided, compared to the alternatives we considered. I would like to
extend my congratulations and thanks to the Kenmare team on site and our
specialist contractors for completing this record-breaking task safely
and overcoming many challenges as a result of COVID-19.
Following the successful relocation, mining is on track to commence at
the high grade Pilivili ore zone in mid-Q4 and we have taken a critical
step towards achieving a run-rate of 1.2 million tonnes per annum of
ilmenite production. As a result of this expanded production, we expect
to be positioned in the first quartile of the revenue to cost curve,
supporting stronger free cash flow generation and increased shareholder
returns."
For further information, please contact:
Kenmare Resources plc
Jeremy Dibb / Katharine Sutton
Investor Relations
Tel: +353 1 671 0411
Mob: + 353 87 943 0367 / + 353 87 663 0875
Murray (PR advisor)
Joe Heron
Tel: +353 1 498 0300
Mob: +353 87 690 9735
About Kenmare Resources
Kenmare Resources plc is one of the world's largest producers of mineral
sands products. Listed on the London Stock Exchange and the Euronext
Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique.
Moma's production accounts for approximately 7% of global titanium
feedstocks and the Company supplies to customers operating in more than
15 countries. Kenmare produces raw materials that are ultimately
consumed in everyday "quality-of life" items such as paints, plastics
and ceramic tiles.
(END) Dow Jones Newswires
September 28, 2020 02:00 ET (06:00 GMT)
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