28 Sep 2012 07:00
Sierra Rutile Limited
Appointment of Chief Financial Officer
London, UK, 28 September 2012: Sierra Rutile Limited (AIM:SRX) ("the Company") is pleased to announce the appointment of Yves Ilunga to the role of Chief Financial Officer ("CFO"). Mr Ilunga, whose appointment as CFO will take effect from 3 January 2013, will be responsible for the Company's financial management.
Mr Ilunga joins Sierra Rutile from AngloGold Ashanti, where he held the position of Vice President - Transformation, responsible for enhancing the financial performance of AngloGold Ashanti's multiple operations in Ghana. Prior to this he held the position of Financial Director of AngloGold Ashanti's Sadiola Gold Mine in Mali, as well as various financial management roles across Africa for both AngloGold Ashanti and De Beers.
Mr Ilunga has a strong track record of financially enhancing mining operations and driving performance upgrades through the implementation of process improvement.
Joe Connolly will remain with the Company until a full handover of responsibilities has taken place.
John Sisay, Chief Executive Officer of Sierra Rutile said:
"It gives me great pleasure to welcome Yves to Sierra Rutile. He brings with him a wealth of financial experience in the mining sector, specifically in Africa. His expertise will give added impetus to drive through operational efficiencies and enhance our financial control.
I would also like to thank Joe for the energy and commitment that he has brought to the Company and for financially navigating us through the turnaround that we have experienced over the last two years. I wish him all the best in his future endeavours."
Ends
For further information please contact:
Sierra Rutile Limited Joe Connolly, Chief Financial Officer & Company Secretary
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+44 (0)20 7074 1800 |
RBC Capital Markets Nominated Adviser and Joint Corporate Broker Martin Eales / Jonathan Hardy
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+44 (0)20 7653 4000 |
Mirabaud Securities Joint Corporate Broker Peter Krens
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+44 (0)20 7321 2508 |
Kreab Gavin Anderson Fergus Wylie/ Andy Jones/ Anthony Hughes |
+44 (0)20 7074 1800 |
Notes to Editors
About Sierra Rutile Limited
Sierra Rutile produces titanium feedstock industrial minerals (primarily rutile, with associated ilmenite), as well as smaller quantities of zircon. Sierra Rutile's mine, located in the south west of Sierra Leone, is one of the largest natural rutile deposits in the world, with a JORC-Compliant Mineral Resource for measured, indicated and inferred resources for the Sierra Rutile mine of over 600 million tonnes (as at February 2011).
www.sierra-rutile.com