Sembehun Project Feasibility and Market Dynamics
Appendix A: History of Sierra Rutile
Sierra Rutile Limited
1920s
Titanium-bearing mineral
sands first discovered in
south-western Sierra Leone
1960s
BTP and Pittsburgh Plate
Glass formed Sherbro
Minerals (SML) and began
mining operations at
Mogbwemo
1995
The second dredge was
under construction when
the mine was shut down
and placed on care and
maintenance
2005
Refurbishment
commenced (funded by
GOSL loan & equity) and
Sierra Rutile listed on AIM
2016
Iluka completed the
acquisition of Sierra Rutile
by means of a merger,
making Sierra Rutile a
wholly owned subsidiary of
Iluka
2021
Sierra Rutile won
the International
SOS Foundation
Duty of Care
Award in the
Remote
Resilience
1950s
British Titan Products
(BTP) began exploring
Gangama and Lanti-Teso-
Gbeni deposits,
confirming reserve
estimates in 1957
1970s
Nord Resources
Corporation (Nord) and
Armco Steel acquired
SML's interests and
formed Sierra Rutile
1983-1995
Mine operated
continuously and
profitably under Nord's
management
1993
Nord sold 50% of Sierra
Rutile to Consolidated
Rutile Limited and the
decision was made to
expand to a two-dredge
operation
Sierra Rutile changed
ownership and the
European Union gave a
€25m grant to GoSL to
loan to Sierra Rutile
2019
Iluka commissioned the
expansions of Lanti and
Gangama, doubling the
production capacity of
these mines
2004
2006
Sierra Rutile resumed
mining operations in the
Lanti North Deposit
Note: More information is available in the Demerger Booklet dated 20 June 2022 relating to the proposed demerger of Sierra Rutile from Iluka, which is available at www.iluka.com.
category
2022
Iluka announced its
intention to demerge
Sierra Rutile
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