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Sierra Rutile boost as titanium sales re-start

Published: 16:54 26 Apr 2016 AEST

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Titanium market picking up says Sierra Rutile

Sierra Rutile Ltd (LON:SRX) has completed construction of its new dry mine at Gangama and expects to start commercial production this quarter.

The Sierra Leone based-miner added it had also re-started sales of rutile into the titanium market after a period when users of the metal were running down stocks.

This initial order was an encouraging sign that the demand for high-grade titanium feedstocks is continuing to strengthen, it added.

Titanium metal is light, durable and unreactive, properties that have made it ideal for use in aviation, automotive, medical and technological applications.

Sierra Rutile added it had historically been a key supplier to this end market where a high-grade premium rutile product is required. 

John Sisay, chief executive, said: "The completion of the construction phase of Gangama represents a significant de-risking step as the project nears commercial production.

“While the re-commencement of sales into the titanium metal market marks the re-emergence of a key end market for Sierra Rutile's premium product.” 

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