Wednesday June 3, 2020

Iluka ends talks to acquire Kenmare Resources

The exploration group is planning a capital raising and debt restructuring to secure its future

7th December, 2015
Kenmare chief executive Michael Carvill and chairman Steven McTiernan Pic:

Australian miner Iluka Resources has ended talks to acquire Kenmare Resources, which is now planning a capital raising and debt restructuring to secure its future as an independent company.

Kenmare, which operates the Moma zinc mine in Mozambique, said it had not proved possible for Iluka to satisfy certain of its pre-conditions and it is now focused "on securing the independent future of the company in the interests of all its stakeholders". Shares in the...

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