Kenmare Resources Plc.
Chatham House, Chatham St, Dublin 2, Ireland.
Tel: +353 1 671 0411 Fax: +353 1 671 0810
Rua de Chuindi No.67, Maputo, Mozambique.
Tel: +258 21 499 701 Fax: +258 21 499 731
Website : www.kenmareresources.com
Email : info@kenmareresources.com
Kenmare Resources plc ("Kenmare" or "the Company")
Moma Mine reaches breakeven point
COO joins the Board of Directors
Performance Improvement Project is 90% complete
11 June 2009
At its Annual General Meeting in Dublin today, Charles Carvill,
Chairman of Kenmare Resources plc, told shareholders that the ramp-up
to full production has been progressing according to forecast with
record production in May. The increased production has been
facilitated by progress with the project to remove certain
limitations in the plant and equipment at Moma. This project, called
the Performance Improvement Project (PIP), is now 90% complete and
will be fully completed in July and August.
Production in May was 40,000 tonnes of ilmenite and 2,300 tonnes of
zircon. This level of production means that the Company has more than
crossed the cash operating cost breakeven point. As a consequence,
the Company will no longer be capitalising operating costs and, from
1 July 2009, these costs will be reflected in the Income Statement.
Chief Operations Officer of Kenmare, Jacob Deysel was today co-opted
onto the Board of Directors of the Company. Jacob was appointed Chief
Operations Officer in February 2009 and is responsible for completing
the ramp-up to full production at Kenmare's Moma Titanium Mine. He
joined from Richards Bay Minerals, the world's largest single
producer of titanium minerals. Jacob holds a BSc in Mine Engineering
and a Masters in Business Administration, both from the University of
Witwatersrand in South Africa. He has worked in the titanium
feedstock industry since 2003. Previously he worked with Gold Fields
Ltd at Driefontein Mine where he was ultimately Operations Manager
for a mining operation of seven shafts and 12,000 employees producing
200,000 tonnes of ore per month. At Richards Bay Minerals, Jacob has
had responsibility for the mine's five plants in addition to geology,
mine planning and maintenance.
Charles Carvill said: "We are delighted to welcome Jacob to the
Board. In the short time he has been with the Company he has already
made a huge impact on our operations. Achieving cash operating cost
breakeven is an important point on the ramp-up process of this mine
and represents a significant point in our development."
For more information:
Kenmare Resources plc
Michael Carvill, Managing Director
Tel: +353 1 6710411
Mob: + 353 87 674 0110
Murray Consultants
Elizabeth Headon
Tel: +353 1 498 0345
Mob: + 353 87 989 7234
Conduit PR Ltd
Leesa Peters/Charlie Geller
Tel: +44 207 429 6600
Mob: +44 781 215 9885
www.kenmareresources.com
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