REG-First new dredge arrives at the Moma Mine

Kenmare ResourcesAnnouncement

21/07/2025 07:00

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Kenmare Resources plc
(“Kenmare” or “the Company” or “the Group”)

21 July 2025

First new dredge arrives at the Moma Mine

Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers
of titanium minerals and zircon, which operates the Moma Titanium Minerals
Mine (the "Mine" or "Moma") in northern Mozambique, announces that the first
of its two new high-capacity dredges has arrived safely at Moma. The new
dredges form part of the upgrade of Kenmare’s largest mining plant, Wet
Concentrator Plant (“WCP”) A.

Statement from Ben Baxter, Kenmare’s Chief Operations Officer:

“The safe beach landing of the first of the two new, high-capacity dredges
represents a key milestone in the WCP A upgrade project. It marks the start of
an exciting quarter, which will see us begin commissioning of the dredges and
upgraded plant, ahead of WCP A starting its transition to the Nataka ore zone
in Q4. While I was on site at Moma last week I was pleased to see the
significant and safe progress being made with the upgrade work. The project
continues to progress to plan and we will provide further updates to the
market as we progressively de-risk this project during the remainder of the
year.”

Background on the new dredges

The dredges were fabricated by Royal IHC in the Netherlands and they each
weigh 1,160 tonnes, equivalent to more than 80 double decker buses. At 62
metres in length, they are almost as long as a jumbo jet, and they are 19
metres wide and 18 metres high.

The dredges began their journey to Mozambique by sea on 4 June 2025. They were
transported by Roll Group on a heavy load carrier vessel and anchored to the
north of Moma on 4 July. The first dredge was landed on a purpose-built beach
landing area, approximately two kilometres from Moma’s dedicated port
facilities, on 18 July.

View photographs of the beach landing of the first dredge here:
www.kenmareresources.com/media/image-library/#projects

The second dredge is due to be landed on the beach at Moma in the coming
weeks. Both dredges will be transported to the (currently dry) staging pond by
road on platform vehicles called Self-Propelled Modular Transporters (SPMTs),
which Kenmare used in 2020 for its record-breaking relocation of WCP B. The
new feed preparation module, which is another element of the upgrade project,
is being assembled in the staging pond and the dredges will be placed
alongside it.

Sequence of upgrade work

Currently, WCP A, which is Kenmare’s largest mining plant, is mining an area
alongside the staging pond. Once the new dredges are in place and work on the
new feed preparation module is complete, the staging pond will be flooded and
the existing dredges will mine through the wall separating the staging pond
and WCP A’s current mining pond. WCP A’s existing dredges will be detached
from the plant and the new dredges will float out of the staging pond to be
attached to WCP A. The existing feed preparation module, which forms part of
WCP A, will also be detached from the remainder of the plant and the new feed
preparation module will be connected in its place. This upgrade work is on
track to begin in Q3 2025 and is expected to take three to four weeks.

View an animation of the planned upgrade sequence here:
www.kenmareresources.com/media/videos/

WCP A’s transition to Nataka

Once the work is complete, WCP A will begin its transition from its current
mining area in Namalope to the Nataka ore zone, which is expected to take
approximately 18 months. Nataka is the largest ore zone in Moma’s portfolio,
representing approximately 70% of Moma’s nine billion tonnes of Mineral
Resources. WCP A is expected to mine in Nataka for the rest of its economic
life, which exceeds 20 years, and the transition to Nataka is essential to
securing production from Moma for decades to come.

For further information, please contact:

Kenmare Resources plc
Katharine Sutton
Investor Relations
ir@kenmareresources.com
Tel: +353 1 671 0411
Mob: +353 87 663 0875

Murray (PR advisor)
Nicola Cooke
ncooke@murraygroup.ie
Tel: +353 1 498 0300
Mob: +353 87 780 6125

About Kenmare Resources

Kenmare Resources plc is one of the world's largest producers of titanium
minerals. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare
operates the Moma Titanium Minerals Mine in Mozambique. Moma's production
accounts for approximately 6% of global titanium feedstocks and the Company
supplies to customers operating in more than 15 countries. Kenmare produces
raw materials that are ultimately consumed in everyday quality-of life items
such as paints, plastics, and ceramic tiles