Kenmare Resources has reduced its 2026 ilmenite production guidance at the Moma mineral-sands operation in Mozambique as commissioning difficulties continue at its WCP A concentrator, while advancing feasibility work on a potential monazite concentrate business.
The Irish miner now expects annual ilmenite production of 710,000–750,000 tonnes, compared with its previous target of approximately 800,000 tonnes. Third-quarter output recovered to 233,600 tonnes, an increase of 59% from the preceding quarter, but operational problems prevented the company from maintaining its earlier annual forecast. Kenmare has also lowered its annual shipment guidance to approximately 1.05 million tonnes, citing logistical and shipping delays. The company expects WCP A to achieve sustained nameplate performance during the first half of 2027.
Monazite study advances potential rare-earth production
Alongside its operational recovery efforts, Kenmare has completed a preliminary feasibility study assessing the recovery of up to approximately 4,000 tonnes of monazite concentrate annually from existing mineral-sands processing streams at Moma.
Monazite can contain neodymium, praseodymium and other rare earth elements used in permanent magnets and advanced industrial applications. Recovering the material could introduce an additional product stream alongside the operation’s established titanium feedstocks and zircon.
The company is launching a definitive feasibility study, which could take approximately one year to complete. Discussions with potential customers are also under way, although no binding offtake agreement has been announced. The proposed development has not reached a final investment decision, and construction financing has not been committed. The feasibility programme therefore remains an assessment of a potential commercial opportunity rather than a funded development project.
Acquisition discussions and operational priorities
Kenmare is separately holding non-binding discussions with International Resources Holdings regarding a possible acquisition of the company.
For European raw-material supply chains, the Moma rare-earth proposal could provide an additional source of strategically important materials if it proves commercially viable. The potential recovery project would use an established mineral-sands operation and its existing mining, processing and export infrastructure rather than require development of an entirely new mine. Stabilising existing operations remains an immediate priority. Kenmare must resolve commissioning problems at WCP A and demonstrate that monazite recovery can generate sufficient value to justify investment.
