Moma mine in Mozambique beat analysts’ predictions despite civil unrest in country
Kenmare's Moma mine in Mozambique. Shares rose on Monday as the titanium minerals and zircon miner’s fourth-quarter production levels topped analysts’ estimates.
Shares in the Dublin-based company rose 1.6 per cent in early trading in London, where activity in the stock was higher than on the Irish market. Meanwhile, Mozambique has been affected by civil unrest since a presidential election in October, in which the ruling Frelimo party’s candidate, Daniel Chapo, was declared winner amid claims from opposition parties that the process was marred by voting irregularities. Mr Chapo was inaugurated last week under heavy guard as protests continued.
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