The managing director of Kenmare Resources has said its titanium mineral mine in Mozambique has sufficient resources to support production – at the current rate – for more than 100 years and that the company had no plans to seek licences elsewhere.
Michael Carvill was speaking as the Dublin and London-listed mining firm reported record half-year profits of $48 million, up 278 per cent on last year, on the back of increased production and shipment volumes.
Kenmare Resources plc (LON:KMR) is an established mining company, which operates the Moma Titanium Minerals Mine, located on the north east coast of Mozambique.