Moma is one of the largest titanium mineral deposits in the world, containing more than 6.3 billion tons of mineral resources, Kenmare Moma Processing's official source said.

Kenmare, quoted by the Profile portal, noted that the mine has a life span of more than 100 years, given its current production rate.

"Kanmare's vast mineral resource base at Moma is sufficient to support production at current rates for over 100 years and provide significant opportunities for further mine expansions in the future to meet the growing demand for this product," reads the company statement.

According to the source, the Mine contains globally significant reserves of heavy minerals that include the minerals titanium, ilmenite and rutile (used primarily to produce the pigment titanium dioxide), as well as the mineral zircon.

Titanium dioxide pigment is used to impart whiteness and opacity in the production of paints, paper, plastic, and other products.

The company's main activity is the operation of the Moma Titanium Minerals Mine, located on the northern coast of Mozambique, which began commercial operation in 2009.