Kenmare posts record profits for 2011

Mining company Kenmare Resources has recorded its first profit from its titanium mine in Mozambique in what it has described as an "important milestone" for the firm.

In annual results published today Kenmare said it generated earnings before interest, tax and depreciation (EBITDA) of $71.7m (€53.6m) in 2011, up from $17.4m the previous year.