Kenmare Resources receives non-binding cash takeover proposal

Kenmare Resources plc has confirmed it received a non-binding cash proposal from International Resources Holdings RSC Ltd (IRH) for its entire issued and to-be-issued share capital. The announcement follows recent press speculation regarding a potential takeover of the mining group.

While discussions are ongoing, no financial terms or specific cash price per share have been disclosed. Kenmare noted that there is no certainty that a firm offer will be made or what the terms might be. Under the Irish Takeover Rules, IRH must declare a firm intention to bid or announce that it will not make an offer by 5 p.m. GMT on November 17, 2026.

Kenmare Resources operates the Moma titanium minerals mine in northern Mozambique. In its July 16 production report, the company noted that the Moma mine shipped 277,700 tonnes of finished products in the second quarter of 2026, representing a 53 per cent increase from the previous year.