| Kenmare Resources reached an agreement with the “State General Reserve Fund”, the sovereign wealth fund of Oman, for an investment of US$100 million in the company, according to a statement released Wednesday by the Irish company.
The company, which explores deposits of heavy minerals in Mozambique at the Moma mine in Nampula province, plans to raise US$175 million to reduce current financial liabilities of US$330 million. The agreement in principle assumes that Kenmare Resources can raise the remaining US$75 million through a share issue...............................................Full Article: Source
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