Kenmare Resources PLC on Friday said Founder & Managing Director Michael Carvill will depart later this year.

The producer of titanium minerals and zircon from Moma titanium minerals mine in northern Mozambique said Carvill will be available as a consultant until at least the end of 2024.

Carvill founded Kenmare in 1987. ‘Under his leadership, Kenmare has evolved into one of the world‘s largest producers of titanium minerals,’ Kenmare said.

Carvill said he will leave as he turns 65 later this year. ‘I am pleased to leave Kenmare in a position of strength, with a tier one asset, and as the largest supplier of ilmenite in the world. It is particularly rewarding to see the transformational change that the company has delivered in the Moma Mine’s host communities,’ he said.

Kenmare Resources shares were up 1.7% to 300.00 pence each on Friday morning in London.

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