.IlukaResources' spin-off Sierra Rutile is hoping to take an investment decision on its second mine in SierraLeone within the next 18 months, following a listing on the ASX demerger mining resources rutile Africa
PERTH – Rutile spin-off Sierra Rutile is hoping to take a final investment decision on the Sembehun project, in Sierra Leone, within the next 18 months and following its listing on the ASX.
The directors of Iluka have unanimously recommended voting in favour of the proposed demerger, after an independent expert concluded that the demerger would be in the best interest of Iluka shareholders.said in a briefing on Wednesday that the company’s immediate focus post the demerger would be to bring the Sembehun project online, and to extend the operating life at the Area 1 project.
Over the 13-year mine life at Sembehun, yearly rutile production will peak in year six of the operations, at 205 000 t, steadying to between 160 000 t/y and 190 000 t/y over the majority of the mine life, while ilmenite production is expected to remain at 75 000 t/y over the majority of the project’s life.
De Bruyn said on Wednesday, commissioning of the Phase 1 operation would start in 2025, while commissioning of the Phase 2 operation was currently planned for October 2027.
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