Core Viewpoint - Kenmare Resources plc has published its Report on Payments to Governments for the financial year ended 31 December 2024, detailing payments made to the Government of Mozambique, with total payments amounting to 20,323,000,whichincludestaxes,royalties,andfees[3][4][22].CompanyOverview−KenmareResourcesplcisaleadingglobalproduceroftitaniummineralsandzircon,operatingtheMomaTitaniumMineralsMineinnorthernMozambique,whichaccountsforapproximately69,921,000 - Royalties: 10,087,000−Fees:315,000 - Total: $20,323,000 [22]. - The mining operations are conducted by wholly-owned subsidiaries, Kenmare Moma Mining (Mauritius) Limited and Kenmare Moma Processing (Mauritius) Limited, which account for 100% of the Group's turnover [7][10]. Payment Details - The Group is subject to a mining royalty of 3% based on Heavy Mineral Concentrate (HMC) sold, and a revenue royalty of 1% on revenue recognized by the processing subsidiary [14][15]. - The corporation tax rate applicable to the Mozambique branch is 35% on taxable profits [15]. Community and Infrastructure Contributions - Payments for infrastructure improvements and social investments are excluded from the report, focusing instead on direct payments to the government [17].
