Sierra Rutile Ltd (SRL) has approved the investment of $52m. in two projects to expand the capacity of its titanium minerals operation in Sierra Leone, the London-listed company announced.
The loss-making company has been assessing ways to boost production in West Africa to capitalise on rocketing prices for the titanium dioxide (TiO2) feedstock rutile.
SRL will invest $20m. to start dry mining at the site’s Lanti deposit, focusing on high-grade pockets of ore that the existing dredge is unable to mine. The...