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Kenmare still in talks over Mozambique rights renewal
(Sharecast News) - Kenmare Resources said on Friday that it remained in talks with the Mozambican government over the renewal of key rights and concessions for its Moma Titanium Minerals Mine, following recent local media reports on the issue. The London- and Dublin-listed miner confirmed that "final terms for the renewal have not yet been concluded" but stressed that operations at Moma "continue as usual and have not been affected by the discussions."
It said the implementation agreement, signed in 2002, governs Kenmare's mineral processing and export activities in Mozambique.
The agreement granted the company certain rights and concessions until December 2024, with an option to extend for a further 20 years.
Kenmare said it started the extension process in late 2022 and had been engaging with the government on possible amendments to the terms.
Although the original expiry date passed on 21 December 2024, the Ministry of Industry and Commerce had confirmed that Kenmare's existing rights and benefits remained "in full force and effect pending conclusion of the extension process."
The company said it would provide further updates in due course.
At 1241 BST, shares in Kenmare Resources were up 2.02% at 341.27p.
Reporting by Josh White for Sharecast.com.
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