Business Model

Kenmare’s business model aims to deliver our strategic objectives of growth, margin expansion and shareholder returns. Through our key inputs of an engaged workforce, a disciplined financial approach, a tier one asset and a commitment to being a responsible corporate citizen, we generate benefits for all of our stakeholders in the long term.



  • Our people are our most important asset as they drive the generation and effective delivery of our strategy.
  • We invest in our employees throughout their careers, offering opportunities for training and development, plus competitive rewards linked to performance.


  • Moma is one of the largest producing mineral sands mines in the world, producing approximately 7% of global demand for titanium feedstocks.
  • The ore zones contained within the Moma resource base are large enough to support production for more than 100 years, at current rates of production.


  • Equity and debt markets have provided the financing necessary to develop the Company.
  • Maintaining balance sheet strength and flexibility provides opportunities for shareholder returns and investment growth.

What we do

1. Ore body definition

We use drilling and sampling to define the size, quantity and grade of mineral resources. We then determine technical feasibility and assess commercial viability.

2. Development

Through the development process, commercially viable mineral reserves and resources are transformed into producing assets.

3. Mining

Dredge mining is a low cost form of mining and it accounts for the majority of our mining activities. Dry mining provides additional flexibility.

4. Processing and storage

HMC is processed into finished products at our Mineral Separation Plant. We do not use any chemicals in our mining or processing operations, instead using highly specialised gravity, magnetic and electronic processing methods.

5. Sales and marketing

We have our own dedicated port facility and transhipment vessels. We strive for strong, long-term customer relationships for our marketed products.



96% of Kenmare's employees are Mozambican

0.27 LTIFR per 200,000 man-hours worked

The success of our business model allows us to foster a skilled and engaged workforce, working as a team to achieve our shared vision. Our employees are the cornerstone of our business and the objective of our safety culture is to ensure that we provide a safe working environment.

Local community

US$1.4m invested in community development initiatives through KMAD

We take a long-term, strategic approach to conducting our business that ensures that local communities can share in the benefits of our activities. A highlight of KMAD’s 2019 activities was the completion of construction of phase two of the technical school to provide vocational training and skills development for local people. At the end of 2019 over 40 KMAD-supported small businesses were also in operation.


USc8.18 per share 2019 full year dividend

US$44.8m profit after tax

In March 2020 Kenmare declared a 2019 full year dividend of USc8.18 per share, based on our 2019 Preliminary Results. This dividend is in line with our policy to pay a minimum of 20% of profit after tax. Increased shareholder returns are expected following completion of the WCP B move.


90% of power demand from a renewable source (hydropower)

200 hectares of land rehabilitated

Kenmare is committed to responsible environmental stewardship and efficient use of natural resources. We are proud of our low environmental impact, including employing progressive rehabilitation practices and avoiding the use of chemicals in our mining and processing operations.