Kenmare Resources Secures Renewal of Moma Processing and Export Concessions Until 2044

Bitget2026/10/30 07:02

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Kenmare Resources secured Mozambique's approval to renew Moma's mineral processing and export rights and concessions until 2044.
Royalties on gross revenue rise from 1% to 3% for 2025-2029, 4% for 2030-2034 and 5% for 2035-2044.
Commitments over the 20-year extension include at least $200 million in capital investment and $50 million for social responsibility projects.
A 20% withholding tax on services supplied from outside Mozambique takes effect when the agreement's addendum becomes effective.
Mozambique may purchase up to 20% of annual production for local processing at market prices, generally with two years' notice.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kenmare Resources plc published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610300300OMX_____CNEWS_EN_GNW1001280732_en) on October 30, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Kenmare Resources Secures Renewal of Moma Processing and Export Concessions Until 2044

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