Kenmare Resources, which operates the Moma titanium minerals and zircon mine in northern Mozambique, said on Tuesday it cannot confirm recent Mozambican media reports on the finalisation of Moma's Implementation Agreement (IA), the deal that underpins its processing and export rights.
The reports followed comments from a spokesman for the Mozambican government, but Kenmare said it has received no official confirmation or correspondence from the government on the matter and is therefore unable to verify the status or terms of any renewal.
The IA grants rights and concessions to Kenmare Moma Processing (Mauritius) covering processing and export activities, and carries renewal rights on the same terms; mining operations at Moma sit under a separate regulatory framework unaffected by the IA process.
The agreement's original expiry date was 21 December 2024, and the government has confirmed Kenmare's existing rights and benefits remain in full force pending conclusion of the extension process.
Kenmare said it remains committed to reaching a positive near-term conclusion to the renewal and will update the market as developments emerge.
The IA renewal talks come as Kenmare also navigates a non-binding takeover approach from International Resources Holdings RSC, with IRH facing a deadline of 5 pm on 17 November to declare its intentions under Irish Takeover Rules.
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