Power Supply Agreement

Kenmare Resources PLC
13 January 2003


        Kenmare Resources plc ('Kenmare' or 'the Company') Announcement

    Kenmare Signs Power Supply Agreement for Moma Titanium Minerals Project


13th January 2003

Kenmare Resources plc and the Mozambican State-owned utility, Electricidade de
Mozambique have signed a Power Supply Agreement covering the provision of low
cost electrical power to the Moma Titanium Minerals Project.

This Agreement will enable low cost, hydro-electrically generated power to be
available to the project from the commencement of production. The Agreement,
covering a 20 year period, sets out the terms and conditions for the provision
of this power and ensures that the project will pay a highly competitive tariff
for the power supplied. Further terms of the Agreement are confidential.

In order to connect the project to the national grid, a 170 km long, 110 kV
transmission line will be constructed from an existing substation at Nampula,
north of Moma. The costs associated with the construction of this transmission
line have been factored into the project costs and its construction will fall
within the overall development contract. An Environmental Impact Assessment on
the proposed power line has been successfully carried out and approved by the
Government of Mozambique.

Michael Carvill, Managing Director of Kenmare said:

'The signing of the Power Supply Agreement, which is the culmination of year
long negotiations by Kenmare management, is another important advance for the
Moma Project. I am also pleased to report that the funding process is continuing
on schedule.'



For more information :

Kenmare Resources plc
Michael Carvill, Managing Director          Tel: + 353 1 671 0411
Mob: + 353 87 674 0110

Binns & Co PR Ltd
Paul McManus                                Tel: + 44 20 7786 9600
Mob:     + 44 7980 541 893
Judith Parry                                Tel: + 44 113 242 1171

Murray Consultants
Tom Byrne                                   Tel: + 353 1 498 0339

www.kenmareresources.com


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