9th Nov 2015 10:05
LONDON (Alliance News) - Sierra Rutile Ltd and Stellar Diamonds PLC on Monday welcomed the news that Sierra Leone has been declared Ebola free by the World Health Organisation.
Both companies work independently of each other in the West African country, with Sierra Rutile operating a dry mining operation for mineral sands in the south-west of the country, whilst Stellar operates the Tongo diamond project.
The World Health Organisation declared the country Ebola free last Saturday after there were no new cases reported for 42 consecutive days.
John Sisay, chief executive of Sierra Rutile said that whilst the company had never experienced any Ebola cases, its operations were impacted at times by indirect issues associated with the outbreak.
"These impacts have been declining for some time now, evidenced by October being Sierra Rutile's highest ever month of rutile production of 13,710 tonnes, and we remain on track to meet our full year rutile production guidance," he said.
Sierra Rutile shares were up 0.6% to 22.38 pence per share on Monday morning.
Karl Smithson, chief executive of Stellar, said the company is still waiting for the mining licence for the Tongo project, which once secured, will contribute towards the "post-Ebola economic recovery" in Sierra Leone.
Importantly, Stellar Diamonds also has the Baoule project in neighbouring Guinea, which has not been confirmed as Ebola-free. Stellar said that whilst Ebola cases remain in the country, the level of cases is dwindling, and it said it hopes the country can be declared Ebola-free in the "near future".
Stellar Diamond shares were untraded at 0.312 pence per share Monday.
By Joshua Warner; [email protected]; @JoshAlliance
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