Announcements - 18th October 2004

Kenmare Launches Construction of Moma Titanium Minerals Mine

Dear Shareholder,

In Moma, Mozambique today Kenmare Resources plc and the Government of Mozambique held a ground breaking ceremony to mark the commencement of on-site construction for the US$450 million dollar Moma Titanium Minerals Mine.

The construction phase of the mine will last two years after which the facility will produce more than 650,000 tonnes of Titanium Minerals annually. Sales contracts for more than 50% of the planned output have already been signed.

Charles Carvill, Chairman of Kenmare, said

"The world market for titanium minerals is strengthening solidly. Our task is to get the mine into production as rapidly as possible. We are very pleased with progress so far and this ceremony, to mark the start of the site construction, is another important step forward."

Charles Carvill

Chairman

18th October 2004

For further information:

Deirdre Corcoran
Financial Controller
+353-1-671 0411
+353-87-638 3742

Murray Consultants
Elizabeth Headon
Tel: +353-1-498 0300 Mob: +353 87 989 7234

Conduit PR Ltd
Leesa Peters
+44-207-6188708
Mob: +44 781 215 9885