Reserves and Resources
Kenmare’s large mineral resource base at Moma is sufficient to support production at current rates for more than 100 years and provides significant opportunities for further mine expansions in the future to meet increasing demand for these products.
The total proved and probable ore reserves under the Namalope, Pilivili, and Nataka mining concession are estimated as at 31 December 2023 at 1.4 billion tonnes, grading 2.6% ilmenite, 0.17% zircon and 0.06% rutile, containing 37.8 million tonnes of ilmenite, 2.4 million tonnes of zircon, and 0.8 million tonnes of rutile.
The total mineral resources (excluding ore reserves) held by the Group under a combination of exploration licences and mining concessions is estimated as at 31 December 2023 at 7.5 billion tonnes, grading 2.2% ilmenite, 0.14% zircon and 0.05% rutile, containing 162.3 million tonnes of ilmenite, 10.7 million tonnes of zircon and 3.5 million tonnes of rutile.
Details are set out in the reserve/resource table which can be viewed here.
*THM is total heavy minerals of which ilmenite (typically 82%), rutile (typically 2.5%) and zircon (typically 5.5%) total approximately 90%. Tonnes and grades have been rounded and
hence small differences may appear in totals. Mt represents million tonnes.
Notes:
Mineral Resources are additional to Ore Reserves. Estimates for the Namalope, Nataka and Pilivili Ore Reserves and Namalope, Nataka, Congolone, Pilivili, Mualadi, Mpuitine and Marrua Mineral Resources comply with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 edition. Table 1 documentation for these Ore Reserves and Mineral Resources can be found at www.kenmareresources.com. Estimates for the Quinga North Mineral Resource were prepared and first disclosed under the 2004 edition of the JORC Code. These have not been updated to comply with the JORC Code 2012 edition on the basis that the information has not materially changed since it was last reported.
The competent person for the Namalope, Nataka and Pilivili Ore Reserves and Mineral Resources and the Congolone, Mualadi, Mpuitine and Marrua Mineral Resources is Sonsiama Kargbo (MAusIMM and MAIG). Sonsiama is an employee of Kenmare and takes part in the Kenmare Resources Restricted Share Plan. Sonsiama has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the JORC Code 2012 edition. Sonsiama gives consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
JORC Code Table, Congolone 2023
