Irish mining firm Kenmare Resources braced for coronavirus hit but 'well-placed' to cope

Irish mining firm Kenmare Resources has said its 2020 profits may be impacted by a coronavirus-led slowdown in industrial activity, but it is “well-placed” to survive most scenarios that may play out as a result of the virus.

Managing director Michael Carvill said a global recession would be “a big deal” but Kenmare has good liquidity levels – with $80m in cash and a further $80m in undrawn debt.