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LONDON - Kenmare Resources plc (LSE:KMR, ISE:KMR), a titanium minerals and zircon producer, confirmed Friday it remains in discussions with the Mozambican government regarding the renewal of key rights and concessions for its Moma Titanium Minerals Mine.
The company issued a statement in response to recent media reports in Mozambique about the renewal of its Implementation Agreement (IA), which governs Kenmare’s mineral processing and export activities in the country.
The IA, established in 2002, provided Kenmare with certain rights and concessions for an initial period until December 2024, with a potential extension for another 20 years. Kenmare has been engaged in the extension process with Mozambican authorities since late 2022.
While the original agreement expired on December 21, 2024, the Ministry of Industry and Commerce has confirmed that Kenmare’s existing rights and benefits remain in effect while extension discussions continue.
Kenmare emphasized that operations at the Moma mine in northern Mozambique are continuing as usual and have not been affected by the ongoing discussions.
The company stated that the final terms for the renewal have not yet been concluded and that further updates will be provided in due course, according to the press release statement.
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