Kenmare Resources in talks with Abu Dhabi IRH for possible takeover

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Kenmare Resources PLC on Tuesday confirmed it has received a non-binding takeover proposal by International Resources Holdings RSC Ltd.

Kenmare shares jumped 27% to 230.00 pence on Tuesday morning in London.

Addressing recent press speculation, Kenmare, which operates the Moma titanium minerals mine in Mozambique, said talks with Abu Dhabi-based IRH are ongoing, but a firm offer is not certain. The deadline for an offer is November 17.

The negotiation concerns a possible cash offer for Kenmare's entire share capital.

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