Second new dredge arrives to Kenmare's Moma Mine

(Sharecast News) - Kenmare Resources announced the delivery of the second of two new high-capacity dredges to its Moma Titanium Minerals Mine in northern Mozambique on Monday, marking another milestone in the upgrade of its largest mining plant, Wet Concentrator Plant A. The London-listed firm said the dredges are central to its ongoing investment in enhancing production capacity at Moma.

With both now on site, all major components required for the WCP A upgrade had arrived, keeping the project on schedule.

"With the two new dredges now safely at Moma, all the key components required for the upgrade of WCP A are on site," said Ben Baxter, chief operations officer.

"This represents another important milestone in the progressive de-risking of this project.

"The connection of the new dredges and feed preparation module to WCP A is on track to commence later this quarter and we will provide further updates to the market as project execution continues."

Kenmare said it was undertaking the upgrade to support higher mining volumes and improved operational efficiency at the site.

At 0956 BST, shares in Kenmare Resources were up 0.78% at 322.5p.

Reporting by Josh White for Sharecast.com.