Base Resources closes Mukurumudzi Dam
AIM-listed mineral mining company Base Resources has closed the Mukurumudzi Dam in Kenya.
AIM-listed mineral mining company Base Resources has closed the Mukurumudzi Dam in Kenya.
The Mukurumudzi Dam is the primary water resource for the company's Kwale Project and has a storage capacity of 8.5 gigalitres.
As a consequence, the company said that closing the dam ahead of the region's impending wet season was critical in ensuring sufficient process water would be available before the commissioning of the processing plant.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commissioning of the processing plant remained on schedule for practical completion in the third quarter of the year, the company added.
A statement issued by Base Resources described the closure of the dam as a "key milestone in the development of its Kwale Mineral Sands Project" in the East African country.
Base Resources' share price was up 0.96% to 26.25p at 08:00 on Tuesday.
MF
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.