Posted in | Titanium | Zircon | Mining Business

Kenmare Resources to Join FTSE 250

Kenmare Resources PLC will join the FTSE 250 index of shares on the London Stock Exchange after the quarterly review of the London Stock Exhange's FTSE UK Index Series. The changes will be applicable from Monday September 20, 2010.

The main asset of Kenmare resources group is the Moma Titanium Minerals Mine located in Mozambique. The mine on the coast contains reserves of titanium minerals ilmenite and rutile. It also has some high value zircon mineral.

Kenmare is currently progressing with an output expansion at the Moma mine in north Mozambique. The expansion is expected to be complete by 2012 helping to enhance the production of the mine.

The financial director of Kenmare Resources Tom McCluskey said that the recent rise in value of the stocks of the company were a result of the combined effect of the good production of the mine at Moma and the news that the company may be included in the FSTE 250 index.

The Managing Director of the Irish company, Michael Carvill was delighted that the FTSE Nationality Committee had deemed Kenmare eligible for FTSE inclusion. Mr. Carvill also believes that entering the FTSE 250 will broaden the range of potential investors for the company.

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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