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Sierra Rutile To Expand Operations

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Sierra Rutile To Expand Operations

By Alhaji Saidu Kamara……………..
Sierra Rutile Mining Company Limited will soon embark on an open pit dry mining operation known as Sembehun Project in the Moyamba district.
According to the Chief Executive Officer of the SRC, Mr. John Bono Sisay the Sembehun Project would cost about $125m to develop. He said the project represents the next stage in production after Gangama, setting to contribute 74,000 tones of Rutile yearly over the mine’s life span of 19 years. This project emanated as a result of a study undertaken by SRL which confirmed that dry mining is being considered for the Sembehun Project in Moyamba.
Speaking at the launch, Mr. John Bono Sisay confirmed that the new project fits well into SRL’s long term population plan and its ability to find its growth plans to support meaningful and sustainable distribution to shareholders. He said the project proposal comprises of an open pit dry mining operation, with two 500 tones per hour concentrate units with identical configuration of the present Gangama dry mines.
The CEO said they will use internally generated cash flow to develop the project mine with its stated plan of finding growth as well as paying sustainable dividends. The result of the feasibility study will be released in the third quarters. He said that Sembehun runs a long term project, adding that presently no decision has been taken on the start of the project but is expected to take off any time this year.
On the Ebola fight he said they will not relent in their support to the government in ensuring that Ebola is kicked out of the country.

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