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Kenmare Resources PLC

KMR.LSEGBX
225.50-27.3%1Y · GBX

Kenmare Resources plc produces and sells mineral sand products through its subsidiaries, serving markets in China, Europe, the rest of Asia, Saudi Arabia, the United States, and internationally. It operates the Moma Titanium Minerals Mine on the northeast coast of Mozambique. Its products include ilmenite, rutile, zircon, monazite, and concentrates such as secondary zircon, mineral sand concentrates, and ZrTi. Formerly Kenmare Oil Exploration plc, the company changed its name to Kenmare Resources plc in 1987. It was incorporated in 1972 and is headquartered in Dublin, Ireland.

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KMR.LSE▲

Kenmare Resources Confirms Non-Binding Cash Offer Proposal From IRH

The Board of Kenmare Resources plc has confirmed it received a non-binding proposal from International Resources Holdings RSC Ltd, or IRH, regarding a possible cash offer for the entire issued and to be issued share capital of Kenmare. Discussions with IRH are ongoing, and the company said there can be no certainty that a firm offer will be made or as to the terms of any such offer. Under Rule 2.6(a) of the Irish Takeover Rules, IRH must by no later than 5.00 pm GMT on 17 November 2026 either announce a firm intention to make an offer for Kenmare or announce that it does not intend to make an offer. Kenmare said the announcement was made without the approval of IRH. The company also confirmed its issued share capital comprises 89,228,161 ordinary shares of nominal value €0.001 each, with 2,363,871 options over ordinary shares outstanding under its restricted share plan.
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KMR.LSE · Capital · Positive Kenmare confirmed receiving a non-binding cash offer proposal from IRH for its entire share capital
International Resources Holdings RSC Ltd · Capital · Neutral IRH made a non-binding cash offer proposal for Kenmare, but terms and certainty of a firm offer remain unclear
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Critical Materials & Supply Chain▼

Kenmare Resources First-Half Shipments Exceed Run Rate for Full-Year Guidance

Kenmare Resources reported first-half shipments of 556,000 tonnes, putting it on track to exceed its full-year guidance of more than 1.1 million tonnes, as the company prioritizes converting finished goods inventory into cash amid weaker mineral sands pricing. Managing Director Tom Hickey said shipments are the highest priority in 2026, with ilmenite production now expected to be roughly in line with the 800,000-tonne guidance rather than above it, due to ramp-up issues at the WCP A plant including dredge performance problems and lower ore grades. Zircon prices strengthened materially on supply constraints, while ilmenite pricing softened. The company also boosted concentrates output through a new ZrTi product and continues talks with Mozambique over renewing its operating agreement, proposing $200 million of investment and a progressive royalty increase from 2.5% to 3.5% over 20 years.
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Critical Materials & Supply Chain
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Critical Materials & Supply Chain › Specialty Chemicals & Industrial Gases Supply
KMR.LSE · Supply · Negative Ilmenite production guidance cut to roughly in line with 800k tonnes due to ramp-up issues at WCP A plant, including dredge performance and lower ore grades.
KMR.LSE · Pricing · Positive Zircon prices strengthened materially on supply constraints, benefiting revenue mix.
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