Friday, July 12, 2024

Kenmare invests in modernization to expand ilmenite production in Mozambique

The Kenmare mining company is moving ahead with an ambitious modernization and transition project in Mozambique, aimed at significantly expanding its production of ilmenite, an essential mineral in the manufacture of paints, plastics and cosmetic products. The transition from WCP A to the Nataka mine is scheduled for the end of 2025, opening the door to the exploitation of Moma’s vast mineral resources and promising to guarantee decades of productive activity.

In 2023, Kenmare already produced almost one million tons of ilmenite. With the modernization and transition of WCP A, production is expected to increase to 1.2 million tons per year, further boosting the company’s position in the global market. Michael Carvill, Kenmare’s managing director, emphasized that the investment is in line with the mining company’s strategic objectives and its commitment to local community development through the Kenmare Moma Development Association (KMAD).

The significant investment includes not only upgrading the facilities, but also the additional infrastructure required. A definitive feasibility study is scheduled to be completed before the end of the second quarter, providing a clear picture of the project’s costs and benefits.

Carvill stressed that confidence in the team and the assets in Mozambique had driven this investment. To date, Kenmare has invested around 88.4 billion meticais (1.4 billion dollars) in Moma, reinforcing its commitment to sustainable growth and economic development in the region.

With this initiative, Kenmare not only aims to strengthen its position as one of the main global suppliers of ilmenite, but also to deepen its ties with local communities and contribute to Mozambique’s economic progress.

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