Kenmare moves closer towards completion of Mozambique mine

Kenmare has announced the 'Technical Completion' of the Moma Titanium Minerals Mine.

Technical Completion is a requirement of the financing documents, and is achieved by issuing four certificates: Physical Facilities, Production, Efficiency and Environmental.

The first three of these certificates were issued earlier this year and the Environmental Certificate has now been issued.

The next major step to achieve Non-Technical Completion involves the filling of specified reserve accounts to the required levels, which must occur by December 31, 2013.

Tony McCluskey, Kenmare’s Finance Director, said: "We are delighted to have passed this major milestone and appreciate our lenders’ and shareholders’ support as we put in place all the environmental controls and reporting systems which enabled us to achieve Technical Completion.

"We can now move on to achieving Non-Technical Completion, when Kenmare’s project loans guarantee is released."