The Economist: “Overblown expectations of the mining sector”

The government of Mozambique remains confident that its mining boom is set to accelerate in the coming years, despite weak sentiment in the global mining industry. Rising coal production and an eventual rebound in global prices will spur some growth in Mozambique’s mining sector in 2016‑20 but we expect that, weighed down by infrastructure deficits and non-competitive policies, it will remain a relatively small contributor to GDP growth.    Advertisements

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Mozambique Mining: Kenmare Resources reports 3% increase in minerals exports

The production at a heavy sands project in Moma in northern Mozambique, recorded a 3.0 percent increase in the first half of the year, Irish company Kenmare Resources said Monday in a statement quoted by Macauhub news agency.

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Mozambique Mining: Production recommences at Kenmare Moma Mine

Kenmare Resources (LSE: KMR, ISE: KMR) has announced that the Moma Titanium Minerals project in Nampula Province, north Mozambique is now working normally following a temporary suspension of operations as a result of the unofficial industrial action announced on the 24 June. According to the company Managing Director, Michael Carvill, all employees have now returned to work. “The Company stands by the tripartite agreement made with the Union and Department of Labour in March concerning…

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Mozambique Mining: Fearing locals reactions over Xenophobia, Kenmare Resources sends SA miners home

Irish miner Kenmare Resources said Monday it has sent 62 South Africans working at its titanium mine in Mozambique back home as a precautionary measure, after violent anti-immigrant attacks that started in January, when six people were killed around Johannesburg. Kenmare said operations at its Moma mine, located on the north east coast of Mozambique, are expected to continue without significant disruption, but only if the situation is resolved “in the near future.”

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Mozambique Mining: Kenmare grid power restored and progress on financing amendment terms

Kenmare is pleased to announce that grid power was restored to the Mine on 28 March 2015, following the recent flooding in northern Mozambique. The company, one of the leading producers of titanium minerals, is pleased to announce that it agreed with its project lenders to extend the date for delivery of a budget for 2015 to 30 April 2015.

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Mozambique Mining: Floods with negative impacts on Kenmare Resources operations

The recent floods which occurred in Nampula province, northern Mozambique, affected the activity of Irish company Kenmare Resources, which explores heavy minerals deposits in Moma, the company said in a statement. The floods have led to the power transmission line between the provincial capital, Nampula and the mine to fall down and the company was forced to operate using generators.

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Mozambique Mergers & Acquisitions: Kenmare Resources mulls Iluka bid

London-listed Kenmare Resources has entered into discussions with Australian mineral sands miner Iluka Resources over a potential bid for the Irish miner. The company operatinf Moma rare earths project in Mozambique Nampula province initially rejected the proposed takeover after receiving a nonbinding conditional proposal from Iluka in June, Miningweekly reported.

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Mozambique Heavy Minerals: Iluka Resources offers US$780 million for Kenmare Resources Moma mine

Australia’s Iluka Resources has made an offer of US$780 million to buy Irish company Kenmare Resources, whose main asset is the Moma heavy sands mine in Nampula, Mozambique, the Australian company said recently.

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Mozambique Mining: Kenmare Resources posts loss at Moma heavy minerals project

Irish company Kenmare Resources posted a loss of US$17.9 million in the first half, after a profit of US$6.9 million in the same period of 2013, the company said in a statement.

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