5 Nov 2012 07:00
Sierra Rutile Limited
Lanti dry mining commissioning commences on budget and ahead of schedule
London, UK, 5 November 2012: Sierra Rutile Limited (AIM:SRX) is pleased to announce the commencement of commissioning the dry mining concentrator at Lanti ("Lanti Dry Mining").
The concentrator unit, that upon full ramp-up will process in excess of 3.5 million tonnes of ore per annum, will commence processing stockpiled ore previously mined from the Lanti deposit. The resulting concentrate will be trucked to the existing mineral separation plant where it is processed into finished products of rutile, ilmenite and zircon concentrate.
The construction of the concentrator and dry mining stockpile has been achieved on budget and ahead of the original timeline, as announced on 24 October 2011 (and in-line with the revised delivery timeline announced on 10 May 2012). Concentrator commissioning is expected to take 30 days, meaning Sierra Rutile expects to commence commercial production from Lanti Dry Mining, on plan, in 2012.
Commenting on the commencement of commissioning, John Sisay, Sierra Rutile Chief Executive Officer, said, "The delivery of this project is an important milestone for Sierra Rutile. We've shown that we can turnaround our existing assets and have now delivered, on time and on budget, our first expansion project. As the Lanti Dry Mining project is consistent with our next expansion, Gangama Dry Mining, it gives me every confidence in our ability to deliver that project and in us meeting our stated objective of producing 200,000 tonnes of rutile.
SRL has also posted a new corporate presentation on its website at: www.sierra-rutile.com"
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