Kenmare Resources plc is a publicly traded mining company headquartered in Dublin, Republic of Ireland.
Moma is one of the world's largest titanium minerals deposits, located 160 km from the city of Nampula in Mozambique.
[3] In 1987, the company acquired 50% of the licence for the Congolone heavy mineral sands deposit in Mozambique and during 1989, Kenmare's holding increased to 95%.
Following the closure of some of BHP's titanium feedstocks operations, the joint venture agreement was dissolved in 1999 and by 2001 Kenmare had acquired the exclusive rights to the deposit.
A non-toxic discharge of water, sand and clay flowed through the nearby village of Topuito, leaving one 4-year-old child missing.
[4] Kenmare extensively reviewed the berm system, which surrounds the containment ponds and implemented design changes provided by independent engineering firms to prevent any future incidents.
Kenmare is targeting ilmenite production (plus associated co-products) of approximately 1.2 million tonnes per annum on a sustainable basis.
[6] The Moma Mine also produces zircon, an important raw material in the manufacture of ceramics, and mineral sands concentrates, which is used in various clean technology applications.
In 2021 the Mine received a five star NOSA accreditation for health, safety and environmental management for the sixth consecutive year.
Since its inception, some of KMAD's initiatives have included drilling water boreholes to provide clean drinking water for more than 24,000 people, building over 70 classrooms for local school children, constructing two community health centres, and building a technical school for vocational development.
TiO2 pigment impart whiteness and opacity in the manufacture of paper, paint, plastics and multiple other ‘quality of life’ items like inks, pharmaceuticals, and cosmetics.
[16] The Moma Mine also produces zircon, which is an important raw material for the ceramics industry, and mineral sands concentrate, which is used in various clean technology applications.
Most of the ilmenite mined worldwide is used to manufacture titanium dioxide, TiO2, an important pigment, whiting, and polishing abrasive.
It usually occurs in small isolated grains, as an accessory mineral in igneous and metamorphic rocks such as granite, pegmatite, schist, and gneiss.
The Company believes that current product prices are not high enough to incentivise new greenfield projects to be built, which means that over time, demand for titanium feedstocks will exceed the available supply.
[21] Kenmare's sales profile is geographically diverse with the Company selling its products to customers operating in more than 15 countries globally.
[22] In August 2018, Kenmare announced three development projects that together had the objective of increasing Moma's production: The Mine briefly suspended operations in June 2015 in the face of industrial action by employees unhappy about the company's cost-cutting measures.
Successful negotiation between the union, the Company and the Ministry of Labour had resulted in agreement on somewhat less drastic measures involving fewer layoffs than originally announced.
[32] As Iluka was announcing its decision to withdraw from takeover talks, Kenmare management announced that the State General Reserve Fund (SGRF) of Oman, which is now known as the Oman Investment Authority (OIA), had indicated an interest in investing US$100 million, based on an overall restructuring arrangement being accepted by shareholders.