Stmnt re Kenmore Moma Project

Kenmare Resources PLC
20 December 2000



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


       Kenmare Moma Project granted favourable tax status


Kenmare Resources plc announced today that the Government of Mozambique has
approved a favourable tax status for the Moma Titanium Minerals Project.  The
project company has been granted Industrial Free Zone (IFZ) status, which
substantially reduces the tax payable by the project.

Under the IFZ fiscal regime, the project processing company will be exempt
from corporation tax, import duties, export duties and Value Added Tax.  The
Company will pay a 1% turnover tax after year six of production.

The Moma deposit located in northern coastal Mozambique is one of the world's
largest undeveloped deposits of titanium minerals.  Kenmare, having already
acquired the Concentrator Plant and the Separation Plant, two of the three key
elements of the mine, plans to commence production in late 2002.

The approval of the Industrial Free Zone status by the Council of Ministers of
Mozambique is a major step toward this goal.

A Pre-Feasibility Study was completed on the Moma Titanium Minerals Project in
February 2000.  This showed the project to be financially robust.  Since then,
the Concentrator Plant bought from BHP in January has been dismantled,
transported to the port of Bunbury in Australia, and is now packaged for
export to Mozambique.  In addition pilot plant operations have confirmed the
laboratory scale testwork and produced samples for testing by consumers.  The
market response has been positive and a Definitive Feasibility Study is due
for completion in early 2001.

Charles Carvill, Kenmare's Chairman, said:

'The Government of Mozambique, by approving the IFZ status with such
promptness, has yet again demonstrated with deed its determination to build
the economy of Mozambique and to operate in a transparent business friendly
manner.

We are delighted with progress achieved to date and look forward to the
publication of a positive Definitive Feasibility Study.'


20 December 2000

For more information :
Michael Carvill                       Tony McCluskey
Managing Director                     Financial Director
[phone] or [phone]   [phone] or [phone]

Kenmare Website:  www.kenmareresources.com