Kenmare Resources triples shareholder dividend as profits soar

The Irish mining company saw a 53 per cent increase in half-year sales as production volumes from its mine in Mozambique increased significantly

The titanium pigment extracted by Kenmare at its Moma mine in Mozambique goes into a number of everyday products, including paper, plastics, fabrics, cars and other household items. Picture: Geoff Brown

Kenmare Resouces, the Irish mining company, recorded bumper profits in the first half of the year, allowing it to triple its interim dividend to shareholders.

The company reported a 121 per cent increase in half-year earnings (Ebitda) to $82.3 million, as profit margins in the business soared to lucrative 46 per cent.

Operating profits for the first six months more than doubled to $58.8 million, as operating profit margins widened from 17 per cent last ...