Financial Performance - Revenue decreased by 13% year-over-year, from $804 million in Q3 2024 to $699 million in Q3 2025[11, 16] - Adjusted EBITDA decreased by 48% year-over-year, from $143 million in Q3 2024 to $74 million in Q3 2025[11, 25] - Adjusted EBITDA margin decreased by 720 basis points year-over-year, from 17.8% in Q3 2024 to 10.6% in Q3 2025[11, 25] - Free cash flow was a use of $137 million in Q3 2025, compared to a use of $14 million in Q3 2024[11] - Net loss attributable to Tronox was $99 million in Q3 2025, compared to a net loss of $25 million in Q3 2024[11, 13] Operational Highlights - TiO2 volumes decreased by 8% year-over-year and 4% quarter-over-quarter[16, 21] - Zircon volumes decreased by 4% year-over-year and 7% quarter-over-quarter[16, 21] - The company is on track to deliver sustainable run-rate cost improvements of more than $60 million in 2025 and $125-$175 million by the end of 2026[10] Liquidity and Capital Allocation - The company raised $400 million of secured notes in Q3 2025[10, 33] - Total debt was $3.2 billion as of September 30, 2025, with a net leverage ratio of 7.5x on a trailing twelve-month basis[33] - Total available liquidity was $664 million as of September 30, 2025, including $185 million in cash and cash equivalents[33]

Core Viewpoint - Kenmare Resources plc has announced the appointment of Ekaterina (Katia) Ray as an independent Non-Executive Director, alongside other changes to its Board of Directors, aimed at strengthening the company's governance and strategic direction [2][3]. Group 1: Board Changes - Katia Ray has been appointed as an independent Non-Executive Director and member of the Remuneration Committee, effective immediately [2]. - Graham Martin will retire from the Board after nine years of service, effective January 31, 2026 [8]. - Elaine Dorward-King will take on the role of Senior Independent Director, while Katia Ray will chair the Remuneration Committee and Deirdre Somers will chair the Nomination Committee [8]. Group 2: Background of Katia Ray - Katia Ray has over 25 years of senior-level experience in the mining sector, including roles at FTSE 100 companies across Europe, Africa, North America, and Asia [5]. - She has held various senior positions in sales, marketing, business development, and change management during her 15 years at Rio Tinto [5]. - Katia founded her consultancy, KPNB Limited, in 2009, providing strategic advice to multinational corporations and private equity firms [6]. Group 3: Company Overview - Kenmare Resources plc is a leading global producer of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique [2]. - The Moma mine accounts for approximately 6% of global titanium feedstocks, supplying customers in over 15 countries [9].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of Tronox Holdings plc between February 12, 2025, and July 30, 2025, about the upcoming lead plaintiff deadline on November 3, 2025, for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who bought Tronox common stock during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 3, 2025 [2]. - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [3]. Group 2: Case Allegations - The lawsuit alleges that Tronox's management made overly positive statements regarding the company's growth and strength in its pigment and zircon commercial division during the Class Period [4]. - It is claimed that while Tronox projected revenue growth for 2025, the company failed to accurately forecast demand for its products, leading to declining sales and increased costs, which ultimately derailed revenue projections [4]. - The lawsuit asserts that when the true state of Tronox's commercial division was revealed, investors suffered damages [4].

Core Viewpoint - Tronox Holdings plc is facing a class action lawsuit due to allegations of providing misleading statements about its financial health and sales forecasts, leading to a significant drop in stock price [3][4]. Summary by Sections Allegations - The complaint claims that Tronox made overly positive statements while concealing material adverse facts about its ability to forecast demand for its products, particularly in its commercial division [3]. - Despite optimistic long-term projections, the company's forecasting processes failed, resulting in declining sales and increased costs, which ultimately derailed revenue projections [3]. Financial Impact - On July 30, 2025, Tronox reported a significant reduction in TiO2 sales for the second quarter, attributing the decline to a softer coatings season and increased competition [3]. - Following this announcement, Tronox revised its 2025 financial outlook, lowering full-year revenue guidance and cutting its dividend by 60% [3]. - The stock price plummeted from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025, marking a decline of approximately 38% in just one day [3]. Class Action Details - Shareholders who purchased shares during the class period from February 12, 2025, to July 30, 2025, are encouraged to register for the class action [4]. - The deadline for shareholders to seek lead plaintiff status is November 3, 2025, and there is no cost or obligation to participate [4].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of Tronox Holdings plc between February 12, 2025, and July 30, 2025, about the upcoming lead plaintiff deadline on November 3, 2025, for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who bought Tronox common stock during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 3, 2025 [2]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements, including the largest securities class action settlement against a Chinese company at the time [3]. - The firm has consistently ranked in the top 4 for securities class action settlements since 2013 and recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3]. Group 3: Case Allegations - The lawsuit alleges that Tronox's defendants made misleading statements regarding the company's growth and strength in its pigment and zircon commercial division, while concealing adverse facts about its ability to forecast demand [4]. - Despite optimistic long-term projections, Tronox's sales declined and costs increased, leading to a failure in meeting revenue projections, which resulted in investor damages when the true situation was revealed [4].

Core Points - The US and Australian governments have signed an agreement aimed at "critical mineral and energy dominance," which is expected to lead to significant investments in mining projects in both countries [2][4] - Arafura Rare Earths Ltd and other companies in the rare earth sector have seen their share prices increase following the announcement of this agreement [1][5] - The agreement includes a commitment of US$3 billion in investments over the next six months to develop critical projects across Australia [4] Investment Opportunities - The first project under the agreement is a gallium refinery in Western Australia, developed by Alcoa-Sojitz, which is projected to produce approximately 100 tonnes of gallium annually [3] - Arafura's NT Nolans project, which focuses on neodymium production, is another potential investment opportunity, with its share price rising over 9% [5] - Additional potential projects include titanium and zircon initiatives in Victoria, Queensland, and New South Wales, as well as a graphite mine in Queensland [5] Government Involvement - The US and Australian governments will gain stakes in the facilities built through this financing and will have rights to a portion of the rare earth supply [4] - The motivation behind this agreement is to diversify supply sources away from China, enhancing the strategic position of both countries in the critical minerals market [4]

Core Viewpoint - Kenmare Resources plc provided a trading update for Q3 2025, highlighting production challenges due to upgrades at the Wet Concentrator Plant A and a decline in global market conditions affecting demand and pricing for titanium minerals and zircon [4][6][27]. Production Overview - The Moma Mine produced 298,400 tonnes of Heavy Mineral Concentrate (HMC) in Q3 2025, a 16% decrease year-on-year, primarily due to a 19% decrease in excavated ore volumes [9][14]. - Ilmenite production was 209,000 tonnes, down 19% year-on-year, while primary zircon production was 12,300 tonnes, down 16% year-on-year [15]. - Total shipments of finished products were 227,400 tonnes, a 25% decrease year-on-year, attributed to reduced shipping capacity [16]. Operations Update - The upgrade project for Wet Concentrator Plant A is on track, with commissioning of new dredges and feed preparation modules beginning in October 2025 [5][21]. - The capital cost for the WCP A upgrade project remains at $341 million, with expectations to achieve nameplate capacity by the end of 2025 [23]. Market Conditions - Global demand for mineral sands products softened, leading to a decline in prices for Kenmare's products [27][29]. - One customer has indicated it will not take contracted volumes in H2 2025, affecting Kenmare's sales strategy [17][29]. - The zircon market remained subdued, but demand for Kenmare's high-grade zircon was stable in China and Europe [32]. Corporate Update - Discussions with the Government of Mozambique regarding the extension of Moma's Implementation Agreement are ongoing, with the company focused on securing its contractual entitlements [24][25]. - The company is pursuing payment for approximately $9.3 million in unpaid invoices due to a customer's financial distress [29].

Core Viewpoint - A class action lawsuit has been filed against Tronox Holdings plc for allegedly providing misleading statements about its financial health and sales forecasts, leading to significant losses for investors [8]. Allegation Details - The lawsuit claims that Tronox made overly positive statements while concealing material adverse facts about its commercial division and the demand for its products [8]. - The company’s forecasting processes reportedly failed, resulting in declining sales and increased costs, which ultimately derailed revenue projections [8]. Financial Impact - On July 30, 2025, Tronox announced a significant reduction in TiO2 sales for the second quarter, attributing the decline to a softer coatings season and increased competition [8]. - Following this announcement, Tronox revised its 2025 financial outlook, lowering full-year revenue guidance and reducing its dividend by 60% [8]. - The stock price plummeted from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025, marking a decline of approximately 38% in one day [8]. Next Steps for Investors - Investors who purchased Tronox shares during the class period (February 12, 2025, to July 30, 2025) have until November 3, 2025, to apply to be appointed as lead plaintiff in the lawsuit [8].

Core Viewpoint - Tronox Holdings plc (NYSE: TROX) is facing a class action lawsuit due to allegations of misleading statements regarding its financial performance and demand forecasting for its products, leading to a significant drop in stock price [1][2]. Summary by Sections Allegations - The complaint claims that Tronox provided overly positive statements while concealing material adverse facts about its commercial division and demand forecasting capabilities [1]. - Despite ambitious long-term projections, Tronox's sales continued to decline, and costs increased, which ultimately affected revenue projections [1]. - On July 30, 2025, Tronox reported a significant reduction in TiO2 sales, attributing the decline to a weaker coatings season and increased competition [1]. Financial Impact - Following the announcement of poor financial results, Tronox revised its 2025 financial outlook, lowering full-year revenue guidance and cutting its dividend by 60% [1]. - The stock price plummeted from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025, marking a decline of approximately 38% in one day [1]. Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action by November 3, 2025, to potentially become lead plaintiffs [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of Tronox Holdings plc during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who bought Tronox common stock between February 12, 2025, and July 30, 2025, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 3, 2025 [3][5]. - The lawsuit alleges that Tronox's management made misleading statements about the company's growth and performance in its pigment and zircon commercial division, which ultimately led to a decline in sales and increased costs [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering hundreds of millions for investors [4]. - The firm has been recognized for its leadership in securities class action settlements, achieving the largest settlement against a Chinese company at the time and ranking highly in settlement numbers since 2013 [4].