History

Kenmare completed the Definitive Feasibility Study for the upgrade of WCP A and its transition to Nataka. Nataka is the largest ore zone in Moma’s portfolio and by transitioning WCP A to this area from late 2025, Kenmare will secure production from Moma for decades to come.

Kenmare achieved almost 12 million hours worked without a Lost Time Injury to September 2022, setting a new safety record for the Company.

2021 was a record year for Kenmare in terms of safety, production, shipments and financial performance.

WCP B and its dredge were successfully moved 23km by road from their previous mining area at Namalope to a new high grade ore zone called Pilivili in September 2020. The relocation represented the heaviest piece of mining equipment ever to be moved in Africa. The WCP B move was the final of Kenmare’s three growth projects that the Company announced in 2018.

Construction of Wet Concentrator Plant (WCP) C began in 2019 and first Heavy Mineral Concentrate production was delivered in February 2020. WCP C is Kenmare’s third mining plant and the second of the three growth projects announced in 2018.

In 2019, Kenmare also paid its first dividend.

In 2018 Kenmare announced three growth projects to increase ilmenite production from the Moma Mine. The first of the three projects was a 20% capacity increase of WCP B, which was delivered on time and more than 35% under budget.

In 2016 Kenmare became the third largest TiO2 producer globally.

In Q2 2015 the Moma Mine achieved annualised production of one million tonnes per annum of products.

In 2012 Kenmare generated EBITDA of US$99 million.

In 2009 commercial production was achieved at Moma.

In 2007 the Moma Mine delivered its first production.

In 2004 construction of the Moma Mine began.

Kenmare also founded the Kenmare Moma Development Association (KMAD), a not-for-profit development organisation that implements development initiatives for the host communities of the Moma Mine.

In 2001 Kenmare acquired the outstanding interest in the licence from the original owner.

From 1996 to 1999, BHP concentrated on a new area of the Mine and identified new deposits of heavy minerals at the coastal zone of Namalope (comprising the Namalope Reserve as well as the Mualadi and Pivilli deposits). Following BHP’s closure of some titanium feedstock operations in 1999, the joint venture arrangement was dissolved without Kenmare ceding any equity interest to BHP.

In 1996 BHP became a joint venture partner in the development of the deposit.

In 1994 Kenmare began production of graphite at Ancuabe in Mozambique, establishing itself as one of the world’s leading producers of high quality natural flake graphite until 1999. The Company also listed on the London Stock Exchange and the Irish Stock Exchange (now Euronext Dublin).

In 1987 Kenmare Oil Exploration plc changed its named to Kenmare Resources plc. The Company also acquired an interest in licences containing the Congolone heavy mineral sands deposit in Mozambique.

Michael Carvill became Managing Director of Kenmare in 1986. He served as Managing Director for 38 years, until August 2024.

In 1985, after several years of oil exploration, the Company re-registered as a public limited company under the name Kenmare Oil Exploration plc.

Kenmare was incorporated in Ireland on 7 June 1972 pursuant to the 1963 Act under the name Kenmare Oil Exploration Limited (registered number 37550).