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Tue 05 May 2007Losses at Kenmare hit $4.3m last yearKenmare Resources, the Dublin-based mining company digging for ilmenite in Mozambique, said yesterday it should be profitable at the end of this year after shipping its first resource in June.Speaking as the group revealed a net loss of $4.3 million (€3.2 million) for last year, managing director Michael Carvill said Kenmare had made good progress since it started mining operations at its Moma plant in Mozambique last month. He said the group is on track to ship its first delivery in June. From this date the group will generate an income and, provided the ramp up to full production goes to plan, the company should make a profit this year, he said.