MOZAMBIQUE: Construction Work Begins on Kenmare's 50% Expansion at Moma

摘要

Construction work has begun on the 50% expansion of Kenmare Resources' Moma mine in northern Mozambique. Capital investment in this project has been budgeted at $US 200 million. To finance the expansion, as well as providing extra working capital, Kenmare issued 1.497 million shares in March 2010, half of which were offered to existing shareholders and half were offered to institutional investors. Altogether, the exercise raised ￡ 179.6 million (equivalent to about $US 270 million).