Sierra Rutile Reveals Successful Dredge Study (Sierra Leone)

Sierra Rutile Reveals Successful Dredge Study

 

Sierra Rutile Limited has announced the results of its feasibility study into a new large dredge.

Highlights:

1. Exceptional feasibility study economics:

– US$472 million project pre-tax NPV110;

– US$301 million project post-tax NPV10;

– 68% pre-tax IRR2, 59% post-tax IRR; and

– 12-month project payback.

2. 81,000 tonnes per annum of rutile produced, on average, in the first 10-years of the project’s life, with a further 43,000 tonnes of ilmenite and 7,000 tonnes of zircon concentrate.

3. 27-year modelled project life, with significant scope for further extensions to the project life.

4. Low cash-cost3 operation at just US$394 per tonne life-of-mine and just US$219 per tonne for the first five years.

5. Total capital cost, including contingency, of US$169 million over a 24-month project delivery timeline.

Commenting on the successful Study, John Sisay, SRL Chief Executive Officer, said, “This extensive study into the introduction of a new large dredge illustrates definitively the world-class nature of our deposit and its ability to support multiple mining units. The value of this project and its potential returns is impressive, and it further highlights the inherent value of our existing, operating assets and near-term expansions. The low-cost nature of this project provides SRL the opportunity to be an extremely profitable supplier of rutile to the market for the long-term.”

Press Release, October 4, 2012

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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