Kenmare needs capital injection to provide 'short-term liquidity'

Thursday 10 October 2013 17.59
Kenmare mines ilmenite and zircon from its mine in Moma, Mozambique
Kenmare mines ilmenite and zircon from its mine in Moma, Mozambique

Kenmare Resources has said it needs an injection of capital to provide it with short-term liquidity after weak pricing for minerals and lower production has caused a funding squeeze.

Kenmare, which mines ilmenite and zircon from its Moma mine in Mozambique, did not give further details on the capital injection.

"An injection of capital will be required to provide the Group with important near term liquidity as well as medium-term flexibility," the company said in a statement.