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The latest update is out from Kinetic Mines & Energy Ltd. ( (HK:1277) ).
Kinetic Development Group Limited has entered into a cooperation agreement via its Sierra Leone subsidiary, Kinetic Development Metal Mining (SL) Limited, with Minenet Company Limited to develop and operate a rutile project in Rotifunk, Moyamba District, Sierra Leone. Under the deal, Kinetic will invest about US$18 million to build three initial production lines, each capable of processing over 2 million tonnes of ore annually, with plans to add two more lines subject to performance and resource confirmation, ultimately reaching an expected output of about 480,000 tonnes of heavy mineral sands per year. Kinetic will hold exclusive rights to exploration, mining, processing and sales within a designated 50 square kilometre area under Minenet’s long-term licence, and will receive 80% of the mineral products once all three initial lines are in normal production. The project, now under construction and targeted to start production in September 2026, is seen by the board as a strategic move to strengthen the Group’s competitiveness in supplying high-grade rutile, ilmenite and zircon to international markets, potentially enhancing its position in the titanium dioxide and related industrial supply chain.
The most recent analyst rating on (HK:1277) stock is a Buy with a HK$2.00 price target. To see the full list of analyst forecasts on Kinetic Mines & Energy Ltd. stock, see the HK:1277 Stock Forecast page.
More about Kinetic Mines & Energy Ltd.
Kinetic Development Group Limited is a mining-focused company that, through its subsidiaries, engages in the development and operation of metal mining projects. The Group is expanding its presence in mineral resources used in industrial applications, targeting high-grade feedstock supply to global industrial customers, particularly in titanium-related heavy mineral sands.
Average Trading Volume: 20,672,330
Technical Sentiment Signal: Buy
Current Market Cap: HK$11.13B
Learn more about 1277 stock on TipRanks’ Stock Analysis page.