Kenmare Resources

Kenmare Resources plc

Type	Public (LSE: KMR)
Industry	Investment management
Founded	1985
Headquarters	London, UK
Key people	Charles Carvill, Chairman Michael Carvill, Managing Director
Revenue	$91.6 million (2010)[1]
Operating income	$(3.5) million (2010)[1]
Net income	$(16.3) million (2010)[1]
Website	www.kenmareresources.com

Kenmare Resources plc (LSE: KMR) is a mining company based in Ireland. It is listed on the Irish Stock Exchange and the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The Company was founded by Charles and Michael Carvill in 1986 to exploit mineral wealth in Mozambique.^[2] A tailings dam from mineral processing failed on 8 October 2010, destroying a nearby native village and leaving one 4 year old child missing; mining resumed the following month after some 300 homes had been rebuilt.^[3]

Operations

The Company's principal asset is the Moma mineral sands mine located in Mozambique which has been in production since late 2007.^[4] The mine produces 7% of the world’s ilmenite, the main source of titanium metal and titanium dioxide used as a white pigment in paint. It also prodcues 4% of the world’s zircon, a source of zirconium metal.^[4]

References

1. ^ ^{a b c} Preliminary Results 2010
2. ^ Chairman's Statement
3. ^ Questor share tip: Mozambique incident upsets Kenmare Resources Daily Telegraph, 12 October 2010
4. ^ ^{a b} Kenmare Resources' £180m fundraising for expansion to exploit anticipated tightness in titanium Proactive Investors, 17 March 2010

External links

• Official site