Kenmare Resources earnings decline amid softer demand

“The potential for instability is likely to extend into 2024, with both the USA and Russia holding elections during the year, in addition to approximately 70 other countries, including Mozambique,” the company said.

Last week, Kenmare announced that Mr Carvill will step down from his role and the Board later this year. Pic: Jason Clarke

Irish mining company Kenmare Resources reported a sharp decline in earnings last year, driven by softer demand for mineral product and stabilised pricing.

The company, which operates one of the world’s largest ilmenite mines, Moma, in Mozambique, said it operated in a volatile environment last year as the Chinese economy slowed, and major conflicts erupted or continued in several parts of the world.