Kenmare Resources, a titanium minerals miner listed in Dublin, has undertaken to provide additional disclosures in its financial statements in order to relax the accounting watchdog.

The Irish Auditing and Accountancy Supervisory Authority (Iaasa) recently said that following a staff inspection of Kenmare's 2023 annual financial statement, the company has voluntarily agreed to provide additional disclosures in the future to adopt an assessment that it has the automatic right to extend its mining license agreement (MLC) at its flagship Moma mine in Mozambique to 40 years.

Kenmare has recorded a 40-year lifespan assumption for the Moma mine to value property, plant and equipment in its financial accounts - although the company estimates that the mine has sufficient resources to sustain production for more than 100 years at current rates.

Kenmare has also voluntarily undertaken to provide more information in future financial statements on the impact of environmental risks and other factors on future cash flow projections arising from the continued use of the Moma mine.