PERTH (miningweekly.com) – ASX-listed Sierra Rutile Holdings has replaced its 2022 production from its Area 1 operation, in Sierra Leone, following pit optimisation and pit design work.
“Thanks to optimisation work on our future mine plan updated for current market pricing, we are in the favourable position of having effectively replaced our entire 2022 production and ended the year with more rutile in reserves than when we started,” said Sierra Rutile MD and CEO Theuns de Bruyn.
He told shareholders on Friday that the company is also aiming to have additional resources added to its reserves by mid-year 2023 from drilling at Ndendemoia and Pejebu, which is not included in the annual resource and reserve statement as the drilling is still in progress.
“With the optimisation work undertaken, and the additional resource drilling, we now have a clear pathway to having enough reserves to enable ongoing production from Area 1 throughout the expected Sembehun construction and ramp-up phases. A further life-of-mine of four years and eight months is now envisaged for our Area 1 operations. This will enable Sierra Rutile to have a consistent production profile in the coming years ahead, and is the outcome we have been working towards, giving us confidence in our ability to help fund Sembehun,” De Bruyn said.