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 in northern Mozambique, has completed the execution and initial drawdown process in relation to its recently announced $200 million Revolving Credit Facility.
Following a 30-day consideration period by the Mozambican Ministry of Mineral Resources and Energy, final documentation has been signed and first funds disbursed on 11 March. The previous Term Loan and Revolving Credit Facility put in place in December 2019 have been repaid in full.
The facility has been provided by Absa Bank Limited (acting through its Corporate and Investment Banking Division), Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division), FirstRand Bank Limited (acting through its Rand Merchant Bank division) and Standard Bank Group (acting through its Corporate and Investment Banking division). The Initial Mandated Lead Arranger in respect of the Facility was Rand Merchant Bank.
Kenmare Resources plc is one of the world's largest producers of mineral sands products. 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 7% 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.
All monetary amounts refer to United States dollars unless otherwise indicated.
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