Mozambique's Moma Titanium Mine Continues Operations Amid Protests

Moma Titanium Mine

Kenmare Resources confirms that operations at its Moma titanium mine in northern Mozambique are ongoing, despite national protests following the October elections.

Mozambique-based mining company Kenmare Resources has confirmed that its Moma Titanium Mine in Nampula province, northern Mozambique, is continuing normal operations despite nationwide protests in response to the country's controversial 9 October general election results.

Operations Unaffected Amid Protests

The protests, which erupted after the announcement of the election results, have primarily been fueled by opposition claims of election fraud. Daniel Chapo of the ruling Frelimo party was declared the winner of the election with 71% of the vote, according to reports from Amnesty International. Venancio Mondlane, the leader of the opposition, who secured 20% of the vote, called for nationwide protests. These protests have been met with a heavy security presence, which has reportedly helped to calm the situation over the past weekend.

Despite the unrest, Kenmare Resources assured stakeholders that operations at the Moma mine have not been disrupted. The company has been taking preventative measures to safeguard its personnel and the integrity of its facilities, although no employees have been evacuated. Senior management remains on-site, and Kenmare continues to monitor the situation closely.

Moma Mine's Role in Global Titanium Supply

The Moma Titanium Mine is one of the largest producers of heavy mineral concentrates in the world, with a focus on producing titanium feedstocks such as ilmenite. The mine plays a crucial role in supplying raw materials for the global titanium industry, which is essential for a wide range of applications, including aerospace, automotive, and electronics manufacturing.

Kenmare’s operations at Moma include the extraction and processing of titanium-rich ores, which are then processed to produce feedstocks that support global titanium production. Despite the political instability in Mozambique, the mine’s operations continue to supply a steady output of these critical minerals.

Political Context and Industry Impact

The protests following the election results have raised concerns about the political stability of the region and the potential impact on mining operations. However, Kenmare Resources has reassured investors and stakeholders that there has been no disruption to its operations at the Moma site. The company’s proactive measures to ensure the safety of its staff and facilities have helped to maintain stability in its mining activities.

The Moma Mine is a key asset for Kenmare, and its continued operation is vital not only for the company but also for the broader titanium industry, which is heavily reliant on stable production and consistent supply.

Conclusion

Despite the protests that have unfolded in Mozambique following the election results, Kenmare Resources has successfully kept its Moma Titanium Mine operational. The company’s vigilance in monitoring the situation and taking necessary precautions underscores its commitment to both safety and maintaining a steady supply of titanium feedstocks. With a heightened security presence, the situation in Mozambique appears to be under control for now, ensuring that Kenmare’s mining operations remain unaffected.

Kenmare Resources Rejects £5.30 Takeover Offer from Oryx and Ex-CEO Carvill

Kenmare Resources

Titanium producer opens due diligence access for improved bid but says current offer undervalues business.

Kenmare Resources, a Dublin-based titanium mining company, has rejected a takeover bid from Oryx Global Partners and former CEO Michael Carvill. The non-binding proposal offered £5.30 per share in cash for all issued and to-be-issued shares.

Kenmare, listed on the London Stock Exchange and Euronext Dublin, called the bid insufficient. The board unanimously rejected the proposal, stating it undervalues the company’s business and future prospects.

Due Diligence Granted for Potential Improved Offer

Although the offer was declined, Kenmare granted Oryx and Carvill limited due diligence access. This move keeps the door open for a revised offer, though Kenmare emphasized that no firm proposal is guaranteed.

Under Irish takeover regulations, the bidders must announce a definitive offer or withdrawal by 17:00 GMT on 17 April 2025. Carvill, who led Kenmare for 38 years, stepped down in August 2024.

Kenmare’s Strategic Focus Remains on Mozambique Titanium Operations

Kenmare owns and operates the Moma titanium minerals mine in Mozambique, a major global source of ilmenite, rutile, and zircon. With strong long-term market fundamentals for titanium feedstocks, Kenmare’s board sees substantial intrinsic value in its standalone strategy.

The rejected bid highlights the increasing strategic interest in critical mineral producers, especially those with long-life assets in geopolitically stable jurisdictions.

Kenmare Moma Titanium Minerals Mine Cuts Workforce as Mineral Sands Market Weakens

Kenmare Resources

Kenmare Moma Titanium Minerals Mine is facing a sharper restructuring phase as Kenmare Resources moves to cut 15% of the workforce at its Moma complex in Mozambique. The decision reflects weaker mineral sands market conditions, lower projected revenues, and pressure from operational setbacks during 2025.

The company also suspended its 2025 final dividend and booked a $301.1 million impairment charge. Kenmare linked the impairment to an uncertain pricing outlook and updated assumptions around the renewal terms of Moma’s mining licence with Mozambique’s government.

Kenmare Moma Titanium Minerals Mine produces heavy mineral concentrates including ilmenite, zircon, and rutile. These materials supply titanium dioxide pigment, ceramics, welding, and titanium feedstock markets, making Moma an important asset in the global mineral sands chain.

WCP A Commissioning Issues Hit Production and Cash Flow

Kenmare’s 2025 results were heavily affected by the Wet Concentrator Plant A upgrade at Moma. The project drove capital spending higher, while commissioning problems reduced production volumes and limited sales.

The group’s net debt rose six-fold to $159 million at the end of 2025. The increase reflected major investment in the WCP A upgrade at a time when weaker output and lower shipments reduced cash generation.

Earnings before interest, taxes, depreciation, and amortisation fell 63% on the year to $58 million. The decline shows how quickly operational disruption can affect earnings when market conditions are already weak.

Market oversupply also weighed on ilmenite and zircon prices despite steady underlying demand. This left Kenmare exposed to both lower sales volumes and weaker pricing across key mineral sands products.

Licence Renewal and 2026 Recovery Shape Moma Outlook

The renewal of the Moma Implementation Agreement remains a major strategic issue. The agreement, which covers Kenmare’s mineral processing and export activities with Mozambique’s government, expired in 2024.

Kenmare applied to restart the agreement in 2022, and negotiations are still ongoing. The company said talks in mid-February made constructive progress, but final terms remain important for long-term valuation and investor confidence.

There are signs of operational recovery in early 2026. By the end of the first quarter, WCP A was regularly operating at its nameplate ore feed processing capacity of 3,500 t/hr, although some production issues continued.

Shipments are tracking in line with the run-rate needed to meet 2026 guidance. Kenmare has also drawn down finished stockpiles to manage capital, suggesting the company is prioritising liquidity while it stabilises production at Kenmare Moma Titanium Minerals Mine.

The Metalnomist Commentary

Kenmare’s workforce cut shows that mineral sands producers are under pressure from both price weakness and project execution risk. Moma’s recovery will depend on stable WCP A performance, stronger titanium feedstock pricing, and a clearer licence framework in Mozambique.

Kenmare Resources Achieves Production Milestones in 2024

Kenmare Resources

Strategic Production Gains in Ilmenite and Other Heavy Minerals

Consistent Production Growth Despite Market Fluctuations

Kenmare Resources, operating primarily in Mozambique, reported a 2% increase in ilmenite production in 2024, surpassing the midpoint of its forecasted production range. The company's production of heavy mineral concentrates (HMC) remained stable, with significant activity in the latter half of the year boosting overall output.

Record Outputs in Secondary Minerals and Future Outlook

The final quarter of 2024 saw Kenmare achieving notable increases in the production of ilmenite, zircon, and rutile, with ilmenite production alone jumping 14% year-on-year. These gains reflect heightened processing capacities and improved recovery rates, positioning Kenmare well within the upper spectrum of its annual guidance.

Impact of Global Market Dynamics on Production and Pricing

Amidst a backdrop of rising global demand for titanium feedstocks, Kenmare has navigated shifting market dynamics, including the redirection of Chinese pigment production and the impact of international duties. These factors, combined with strategic increases in HMC exports, have influenced pricing and production strategies moving forward.

Kenmare lowers ilmenite, rutile guidance for 2025 as Moma WCP A upgrades limit throughput

Kenmare Resources

Kenmare lowers ilmenite, rutile guidance for 2025 because upgrade delays are constraining output. Kenmare Resources cited delays at Wet Concentrator Plant A at its Moma mining complex in Mozambique. Kenmare lowers ilmenite, rutile guidance for 2025 as on-plant tailings work restricts plant throughput. Therefore, the company revised near-term volume expectations.

Kenmare cut ilmenite guidance to 870,000–905,000 tonnes from 930,000–1.05 million tonnes. It also cut rutile guidance to 8,500–9,500 tonnes from 9,000–10,000 tonnes. Meanwhile, Kenmare kept zircon and concentrates guidance unchanged. As a result, the revision centers on WCP A reliability and capacity recovery.

WCP A tailings upgrade limits throughput below nameplate capacity

WCP A’s tailings management upgrade is limiting overall throughput. The company said it needs further work to reach nameplate 3,500 tonnes per hour. However, the remaining works could extend into next year. Therefore, operational risk could persist through the next planning cycle.

The upgrade program already hit quarterly output. Ilmenite production fell 19% year on year in July–September. Rutile production fell 16% year on year in the same quarter. As a result, Kenmare lowers ilmenite, rutile guidance for 2025 to reflect the constrained run-rate.

Product stocks protect 2025 shipment targets despite lower production

Strong inventories will keep shipment plans intact. Kenmare said finished product stock rose 5% to 317,000 tonnes in July–September. Therefore, the company expects to ship 1 million tonnes of finished products this year.

This inventory cushion improves customer supply continuity. However, stocks cannot offset prolonged underperformance indefinitely. Meanwhile, pigment and titanium feedstock buyers watch supply reliability closely. As a result, restoration of stable WCP A throughput will remain the key KPI.

The Metalnomist Commentary

Mineral sands projects win on uptime as much as ore quality. Meanwhile, tailings upgrades often create hidden bottlenecks that cap throughput. Therefore, Kenmare’s near-term credibility will depend on clear milestones to restore 3,500 t/hr performance.

Kenmare's Moma Titanium Mine Operates Amid Mozambique Unrest

Kenmare Resources

Despite escalating civil unrest in Mozambique, Kenmare Resources Moma titanium minerals mine continues its operations without material incidents, as confirmed by the Dublin-based company today. The unrest follows a contentious election result upheld by the country’s highest court this week.

Stability Amidst Political Turbulence

Located in the Nampula province along the northeastern coast of Mozambique, the Moma mine has not only managed to avoid any significant disruptions but has also surpassed its production targets for 2024. The mine, operational since 2009, is a critical source of titanium feedstocks such as ilmenite, with an international customer base spanning 15 countries.

Kenmare has responded to the national tension by implementing enhanced security measures to protect its workforce, contractors, and the surrounding communities. The company's proactive approach aims to maintain safe and continuous operations amidst the political instability, which intensified following the Constitutional Council’s decision on December 23 to validate the October election results. The election, which reaffirmed the long-standing governance of the Frelimo party, has been mired in allegations of fraud and subsequent protests, resulting in several fatalities over the past three months.

Economic and Social Contributions

The ongoing operations at Moma highlight not only Kenmare's resilience but also its commitment to the economic stability and safety of its local stakeholders. The company continues to monitor the situation closely, adjusting its security protocols as necessary to navigate the challenges posed by the national unrest.

Kenmare cuts ilmenite guidance as WCP A upgrade issues persist

Kenmare Resources

Kenmare cuts ilmenite guidance again for 2025 as commissioning issues continue at its WCP A upgrade. The Mozambique-focused mineral sands producer lowered full-year output guidance to a minimum of 830,000 tonnes. Therefore, Kenmare cuts ilmenite guidance well below its original 930,000–1.05mn tonne outlook.

Kenmare cuts ilmenite guidance after higher ore throughput exposed slimes management constraints. Slimes are ultra-fine particles that reduce feed rates and weaken recoveries. Meanwhile, the company is prioritising process stability over short-term volume.

Slimes management becomes the main operational bottleneck

Kenmare identified slimes control as the key constraint during ramp-up at WCP A. Higher throughput increased the impact of ultra-fines on circuit performance. As a result, Kenmare is focusing on corrective work rather than pushing additional tonnes.

WCP A should reach its 3,500 t/hr nameplate capacity in the first quarter of 2026. However, the company already flagged that tailings and related upgrades could delay full performance into 2026. This timeline keeps operational risk elevated for near-term ilmenite supply.

What the revised guidance means for titanium feedstock supply chains

Ilmenite is a key titanium feedstock for pigment and titanium metal value chains. A lower output profile tightens availability for buyers who rely on predictable mineral sands shipments. Meanwhile, Kenmare also cut finished product shipment guidance to about 980,000 tonnes.

Two shipments will likely load in early 2026 rather than in 2025. Therefore, some buyers may see delivery timing shift across the year boundary. The project cost remains unchanged at $341mn, which signals Kenmare is absorbing the issue operationally, not financially.

The Metalnomist Commentary

This downgrade looks like a classic ramp-up penalty after a major plant upgrade. However, slimes control often needs iterative tuning at higher loads. Buyers should watch Q1 2026 closely for proof of sustained nameplate performance.