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Irish mining firm Kenmare Resources cuts staff, suspends dividend, and reports $325M loss.
Irish mining company Kenmare Resources cut 15% of staff at its Mozambique mine and suspended its final dividend after reporting a $325 million net loss.
The company blamed the downturn on lower titanium mineral prices and a $301 million asset impairment charge.
Despite the financial strain, CEO Tom Hickey noted the company has over $150 million in liquid assets and is negotiating a new mining agreement with Mozambique.
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La empresa minera irlandesa Kenmare Resources recorta el personal, suspende el dividendo y reporta pérdidas de 325 millones de dólares.