12 July, 2006
At its AGM today Kenmare reported good progress on the development of its Moma Titanium Minerals Mine. The project is now 88% complete and on schedule for completion by the contractor before the end of the year. Various elements of the overall project will be completed before this time.
Kenmare also reported that the full production management team for the mine has now been recruited and is working on commissioning and ramp up programmes. The hiring and training of non-management workers is on-going with the objective of having a full complement of staff on board for taking over various elements of the project as they are released by the contractor.
While the core business of Kenmare will remain titanium minerals, the recruitment of this new project management group has allowed Kenmare to redeploy some of its exploration team. Given Kenmare's experience, logistical capacity and standing in Mozambique, the Directors consider further exploration in Mozambique is a strategic fit for the Company. Hence, Kenmare is pleased to announce that it has been granted three uranium exploration licences covering approximately 750km2 in the Tete Province of western Mozambique. The licences which lie in the Zambezi Valley, cover an area underlain by Karoo sandstones and contain known occurrences of uranium. The licences were signed by Minister Esperanca Bias on July 11. An exploration programme will commence shortly.
For more information:
Kenmare Resources plc Michael Carvill, Managing Director Tel: + 353 1 671 0411 Mob: + 353 87 674 0110
Conduit PR Ltd Leesa Peters Tel: + 44 207 429 6600 Mob: + 44 781 215 9885
Murray Consultants Ltd Elizabeth Headon Tel: + 353 1 498 0300 Mob: + 353 87 989 7234
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