1st Jun 2015 08:36
LONDON (Alliance News) - Mineral sands producer Sierra Rutile Ltd on Monday said its study into dry mining at the Sembehun deposit Sierra Leone has confirmed the viability of operating at the site.
The company said the results of the study were in line with its previously-announced long-term production plan. Sierra Rutile said that as Sembehun is a long-term project, no decision on the start of the development programme will be required until at least 2017.
"The study confirms Sembehun Dry Mine's position in Sierra Rutile's pipeline of low-risk, capital efficient production growth projects, and provides clarity over Sierra Rutile's long-term plans. Together with Lanti Dry Mine and Gangama Dry Mine, the project demonstrates our committed transition to a dry mining focus company," said Chief Executive John Sisay.
Shares in Sierra Rutile were up 1.3% to 30.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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