Mining giant Kenmare in share buyback after strong growth

Irish mining giant Kenmare Resources has announced a tender offer to return more than €70m to shareholders on the back of strong cash flow.

Kenmare, which operates the Moma mine in northern Mozambique, is one of the leading global producers of titanium minerals and zircon.

The firm said on Tuesday that it was returning up to £61.8 million (€73m) to eligible shareholders at £4.17 (€4.93) per ordinary share.

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.

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