KENMARE RESOURCES PLC - Q1 2026 Production Update

Kenmare Resources PLC’s Q1 2026 investor update highlights solid company performance, with shipments on track to meet its 1.1 million tonne target, supporting cash flow and inventory reduction despite softer production linked to WCP-A project completion. The business remains within full-year production guidance, with the upgraded plant expected to enhance throughput, margins, and operational efficiency. Market conditions for titanium feedstocks remain weak, with ilmenite pricing under pressure from oversupply; however, improving demand, a strengthening order book into Q2–Q3, and early signs of market tightening are emerging. Zircon pricing has stabilized and begun to increase, supporting revenue diversification, while the new Zertai product is contributing to sales growth. Kenmare continues to focus on cost control, managing diesel exposure, and maintaining strong customer relationships, underpinning revenue visibility. Progress on Mozambique agreement negotiations remains positive, reinforcing confidence in the group’s growth strategy, long-term asset value, and ability to navigate cyclical market conditions.