Kenmare Resources Warns Mozambique IA Renewal Talks Could Lift Royalties and VAT Working Capital Risk

Kenmare Resources Warns Mozambique IA Renewal Talks Could Lift Royalties and VAT Working Capital Risk

Kenmare Resources (LON:KMR) used an investor presentation to update shareholders on negotiations with the Government of Mozambique to renew its Implementation Agreement (IA), outlining both the terms the company has offered and recent developments that management said could raise fiscal and working

Kenmare facing VAT hit after Mozambique springs tax surprise

SHARES in Kenmare Resources fell 7.5% on Monday after it announced authorities in Mozambique had unilaterally sought to impose regulatory changes that could have negative tax consequences for its Moma heavy minerals mine. Mozambique and Kenmare have been negotiating an extension of an ‘Implementation Agreement’ since around September 2022. The IA sets down a number of processing and export regulations, specifically affecting items such as royalt…