The Moma mine in northern Mozambique, a significant global producer of titanium and zircon, reported a robust 4% increase in exports in 2024, shipping over one million tonnes of finished minerals. This positive performance comes amidst ongoing negotiations for the renewal of the mine’s operating agreement with the Mozambican government.

Kenmare Resources, the Irish company operating the mine, attributed the strong export figures to robust global demand for its products, including ilmenite, zircon, and rutile. These minerals are crucial components in various industries, from paints and plastics to ceramics.

“Demand for all types of Kenmare products remained robust in 2024, and sales are expected to continue to exceed production in 2025,” stated the company in a market update.

The company, listed on the London and Dublin stock exchanges, demonstrated a strong financial performance in 2024, exceeding production guidance targets and paying out approximately US$48 million in dividends.

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However, the renewal of the Moma Exploration Implementation Agreement, which governs the mine’s operations, has faced delays. The agreement expired on December 21st, with negotiations ongoing between Kenmare and the Mozambican government.

Despite these delays, the Mozambican government has assured Kenmare that its existing rights and benefits remain in full force, allowing the company to continue its operations uninterrupted. This interim measure provides crucial stability for the mine and ensures the continued flow of exports.

Kenmare remains optimistic about the future of the Moma mine. The company recently announced plans to mine a new seam within the concession, signaling a commitment to long-term operations and further solidifying its position as a key player in the global mineral sands market.

The Moma mine plays a vital role in the Mozambican economy, contributing significantly to the country’s export earnings and providing employment opportunities for local communities. As negotiations for the renewed agreement continue, both Kenmare and the Mozambican government are committed to ensuring the long-term sustainability and success of this important mining operation.

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