Sierra Rutile 2023 Half Year Results Presentation
Area 1 operation continuing to generate positive returns
Funding mine life extensions and improved efficiency to support transition to Sembehun
Sierra Rutile
Ore mining increased year-on-year by 35% to prepare stockpiles for Q3
wet season with the Lanti mining area now also a load and haul operation.
Pleasingly, the volume of ore feed increased by 9%, offsetting gradually
declining rutile grades at Area 1 as it nears end of life.
2023 commenced in line with expectations but production was
subsequently lost due to power supply issues in June when Heavy Mineral
Concentrate (HMC) was stockpiled ahead of the MSP.
Local Sierra Leone contractor, Mano Mining, was awarded the DM1/4
mining contract and commenced at site.
Government of Sierra Leone is seeking to renegotiate the terms of the
Area 1 fiscal regime set out in the Third Amendment Agreement.
A
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Third Amendment Agreement was central to ability of Sierra Rutile
to continue operations at Area 1 prior to any development of
Sembehun.
Any changes to fiscal arrangements require Sierra Rutile's
agreement, and dialogue commenced in Q3.
Sierra Rutile 2023 Half Year Results Presentation | ASX: SRX
DM4 WCP, Sierra LeoneView entire presentation