Kenmare Resources plc

(“Kenmare” or “the Company” or “the Group”)

6 April 2023

Publication of 2022 Sustainability Report

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 (the "Mine" or "Moma") in northern Mozambique, today announces the publication of its Sustainability Report for the year ended 31 December 2022. The report is available on the Company's website and can be downloaded here.

2022 sustainability highlights:

• Almost 12 million hours worked without a Lost Time Injury to late September 2022; 50% improvement in Lost Time Injury Frequency Rate (LTIFR) in 2022 of 0.09 compared to the three-year average of 0.18 (2020-2022)

• Absolute greenhouse gas emissions reduced by 6% year on year in 2022, driven by the Rotary Uninterruptible Power Supply (RUPS) project and diesel efficiencies following an extensive maintenance programme at the Mineral Separation Plant

• 191 hectares of mined land rehabilitated, exceeding the target of 174 hectares. A further 93 hectare of previously rehabilitated land was improved

• Mozambican representation in the Moma Mine workforce remained constant at 97%

• Female employees represented 14.5% of the Mine workforce at the end of 2022, up from 12.5% in 2021

• $3.0 million investment was made into local communities through the Kenmare Moma Development Association (KMAD) (2021: $2.3 million)

• A water reuse rate of 90% was achieved; Kenmare’s Water Accounting Framework continued to mature and achieve closer alignment with the ICMM principles

• $29.5 million of payments to the Government of Mozambique (2020: $26.5 million)

• Kenmare was named as the most transparent company in Mozambique for the third consecutive year by the Centro de Integridade Pública (CIP) Extractive Industry Transparency Index

• Public security personnel received external training on the Voluntary Principles on Security and Human Rights

The 2022 Sustainability Report, aligned with the Global Reporting Initiative standards, aims to assist stakeholders to further understand our business by providing transparent demonstration and disclosure of Kenmare’s sustainability performance. The Company reports its performance against its 2022 sustainability targets, which were detailed in the 2021 Sustainability Report, and sets new targets for 2023, as the Company works towards its published mid-term (2025) targets.

The 2022 Sustainability Report also outlines the strategy, policies, and management approach of Kenmare's longstanding and on-going commitment to sustainability. These efforts are underpinned by the corporate values of Integrity, Commitment, Accountability, Respect and Excellence (ICARE) and Kenmare’s purpose of “responsibly meeting global demand for quality-of-life minerals.”

Kenmare’s 2022 Annual Report is aligned with the recommendations of Task Force on Climate-related Financial Disclosures (“TCFD”) and contains our disclosures in this regard. Kenmare supports the aims of the TCFD and believes businesses should communicate the risks and opportunities that climate change presents.

Kenmare has also published a Sustainability Fact Book, which is a Microsoft Excel document containing the Company’s key sustainability figures to allow investors to compare its performance to other companies in a quick and efficient manner. The Sustainability Fact Book also provides indexes to Kenmare’s alignment with the Global Reporting Initiative, the Church of England Pensions Board Investment group’s Tailings Storage Facility (TSF) disclosures, the UN Global Compact, Sustainable Development Goals and The Sustainability Factbook is available on the Company’s website at https://www.kenmareresources.com/en/sustainability

 

Statement from Elaine Dorward-King, Chair of the Sustainability Committee:

“Kenmare strives to provide transparent and comprehensive reporting on the progress and challenges related to our sustainability programmes. The Company was recognised as ‘ESG Producer of the Year’ in the prestigious Mines and Money Awards and the team also achieved 21% out of a potential 25% in its 2022 ESG Scorecard.”

 

Statement from Michael Carvill, Managing Director:

“We are committed to building on our good progress to date, but are in no doubt as to the growing expectations from investors and regulators, to reduce emissions, protect and restore biodiversity and to be even more transparent in our sustainability disclosures. We will strive to continue to build on our strong foundations and to make a tangible difference to the lives of our Mozambican host communities. I would like to thank the whole Kenmare team and all our partners for their contributions as we continue this journey.” 

 

 

For further information, please contact:

 

Kenmare Resources plc

Jeremy Dibb / Michael Starke

Investor Relations

ir@kenmareresources.com

Tel: +353 1 671 0411

Mob: +353 87 943 0367

 

Murray (PR advisor)

Paul O’Kane

pokane@murraygroup.ie

Tel: +353 1 498 0300

Mob: +353 86 609 0221

 

About Kenmare Resources

 

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.