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Kenmare study pegs cost of Moma titanium plant relocation at US$106M

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Kenmare study pegs cost of Moma titanium plant relocation at US$106M

Kenmare Resources PLC will need US$106 million to relocate a wet concentrator plant from the Namalope ore zone to the higher-grade Pilivili zone at its Moma titanium mine in Mozambique, according to the company's definitive feasibility study.

Kenmare said June 4 that it intends to fund the estimated capital cost, which includes US$15 million in contingency, from its balance sheet and internally generated cash flow. The relocation project also includes building a 23-kilometer road, a pumping system and power infrastructure, it added.

The transfer is expected to start in the third quarter of 2020, just as the current mining path at Namalope is projected to be completed. A 12-week production halt is anticipated during the relocation, although additional mining areas have been identified at Namalope to ensure production is maintained in case of delays.

Pilivili is expected to contribute 130,000 tonnes per annum of heavy mineral concentrate to the company's goal of increasing production to 1.2 mtpa of ilmenite by 2021.

The company commissioned the 20% capacity expansion at the plant at the end of 2018. Construction of another concentrator plant is underway, with commissioning scheduled in the fourth quarter.

The company said it received the approval in May for one of the two environmental permits required for the relocation.