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Kenmare reports lower FY output on power supply challenges

The share price of LSE-listed Kenmare Resources fell by as much as 26% on Monday morning, as the company announced lower output at its Moma mine, in Mozambique. The mineral sands miner produced 1.1-million tonnes of heavy mineral concentrate in 2015 – 15% less than the 1.29-million tonnes produced the year before. Ilmenite production fell 11% year-on-year to 763 500 t but rutile output rose 2% year-on-year to 51 800 t.