Sierra Rutile Investor Presentation
Outlook for Fundamentally Undersupplied Rutile Market
Global rutile deficit supports Sembehun development.
A
Some recent price moderation after record highs. US pigment producers
experienced TiO2 sales down 30% YoY and have been operating
production facilities at reduced rates.
Natural Rutile Supply Outlook¹
Global Rutile Supply
800
Longer term global supply deficit anticipated as growing demand outstrips
depleting global resources.
700
Demand for natural rutile is supported by its high grade and low impurity
characteristics.
Chloride feedstock consumption for pigment anticipated to grow at CAGR
of 4.4% from 2022 to 2025, compared to a -2.8% CAGR for sulphate
feedstocks over the same period.
Fundamentals remain intact with Sierra Rutile's annual production back-
weighted towards H2 2023.
Sierra Rutile will seek to leverage market presence and long and
established relationships with all primary chloride-based titanium
pigment manufacturers, and the world's largest producers of high-
specification aircraft-quality (aerospace) titanium sponge.
Sierra Rutile Investor Presentation | ASX: SRX
'000 Ti02 units
Sierra Rutile
600
500
400
300
200
100
0
2016
2017 2018 2019 2020 2021 2022f 2023f 2024f 2025f 2026f
Note: (1) Source = TZMI/SRL estimates
21
21View entire presentation