9 Nov 2015 07:00
Sierra Rutile Limited
Sierra Rutile Welcomes Ebola Free Declaration in Sierra Leone
London, UK, 9 November 2015: Sierra Rutile Limited (AIM: SRX) ("Sierra Rutile") welcomes the news that Sierra Leone has been declared "Ebola free", meaning that there have been no new cases of the Ebola virus in the country for 42 consecutive days. The World Health Organisation made the announcement on Saturday, 7 November 2015.
Commenting on the news, Sierra Rutile's CEO, John Sisay, said:
"The ebola-free announcement is an important milestone in the history of Sierra Leone. It has been a challenging period for the country and our company. Sierra Leone can now focus on rebuilding its economy and harnessing our community spirit and national ambition to bring back foreign investors, strengthen the private sector, diversify its economic activity, and bring growth and prosperity to the people of this country.
While Sierra Rutile experienced no cases of ebola and all our employees stayed safe, there was a considerable strain on our people and operations were, at times, impacted 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. Looking forward, we have some exciting further growth opportunities with our Gangama and Sembehun expansion projects, and we are well placed to benefit from any future uptick in mineral sands prices."
ENDS
For Further Information:
Sierra Rutile Limited Matthew Hird, Chief Financial Officer John Nagulendran, Company Secretary
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+44 (0)20 7074 1800 |
Kreab Marc Cohen / Christina Clark / Fiona Cumberland |
+44 (0)20 7074 1800
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Investec Bank Nominated Adviser and Joint Corporate Broker Chris Sim / George Price / Jeremy Ellis
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+44 (0)20 7597 4000 |
RBC Capital Markets Joint Corporate Broker Jonny Hardy
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+44 (0)20 7653 4000 |
Numis Securities Limited Joint Corporate Broker John Prior / James Black / Paul Gillam
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+44 (0)20 7260 1000 |
About Sierra Rutile Limited
Sierra Rutile produces titanium feedstock industrial minerals (primarily rutile, with some associated ilmenite), as well as smaller quantities of zircon. Sierra Rutile's mines, located in the south west of Sierra Leone, are based on 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 895 million tonnes (as at 30 September 2014).
www.sierra-rutile.com