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Irish-based miner Kenmare says needs capital injection
October 10, 2013 / 4:37 PM / 4 years ago

Irish-based miner Kenmare says needs capital injection

LONDON, Oct 10 (Reuters) - Irish-based miner Kenmare Resources said on Thursday it needed an injection of capital to provide it with short term liquidity after weak pricing for minerals and lower production 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.

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