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The Sierra Rutile Review 1 2015

  • Text
  • Ebola
  • Leone
  • Rutile
  • Mining
  • Economic
  • Operations
  • Agriculture
  • Economy
  • Gangama
  • Farming
  • Www.ftinsight.net
Newsletter produced for our client - the Sierra Rutile Review

The Sierra Rutile Review 1

THE SIERRA RUTILE REVIEW elcome to Sierra Rutile’s first newsletter of 2015. Last year was defined by our struggle to contain the Ebola epidemic, falling iron ore prices and the impact of Ebola on Sierra Leone’s economy. By contrast 2015 already gives us cause for optimism. I am proud to say that Sierra Rutile’s annual report and accounts, available on our website, shows a commendable performance in 2014, and I would like to express my appreciation to Sierra Rutile’s management and staff for their efforts in such difficult circumstances. I am also pleased to announce that we have commenced the construction of the Gangama dry mining expansion project. This will be developed in two phases, each a separate 500 tonne per hour operation. Sierra Rutile’s board of directors has given the go ahead for the first phase. It is encouraging to watch the country making great strides towards zero, with an infection rate that has reduced to fewer than 30 Ebola cases per week. To date, Sierra Rutile’s operations have been fortunate to remain free of Ebola. Despite this our company, like the rest of country, cannot afford to relax its vigilance. According to an old Chinese saying, when you have made it 90 percent down the path, you are halfway to your destination. The end is always the hardest stage of the journey. As well as exacting a terrible human and social toll, the epidemic has ravaged Sierra Leone’s economy. The work necessary to ensure our recovery beyond the epidemic has begun. Agriculture is an economic mainstay of our country and a key driver of our economic recovery. The conviction that focusing on the sector is essential if we are to ensure the longer-term welfare of the most vulnerable in our society is the impetus behind our new greenhouse agriculture initiative to boost smallholder farming within neighbouring communities. We are also working with the Sierra Leone Chamber of Mines (SLCOM) to harness the mining sector’s contribution to economic recovery. In February, SLCOM sponsored a discussion event in London’s House of Commons intended to more clearly define the private sector’s role in rebuilding the nation. At the event, Dr Samura Kamara, our Minister of Foreign Affairs, reaffirmed Sierra Leone’s need for a diversified economy, which provides opportunities for growth, employment and development across different sectors. His message could not be timelier. The lesson of the last year is that it is time for us now to focus on private-sector development and empower Africans to be responsible for their own destiny. For Sierra Leone is a nation with a wealth of resources and investment and the new era we have ahead of us, requires a united effort if we are to move beyond being a nation of great potential to becoming one of great purpose. John Bonoh Sisay CEO, Sierra Rutile SIERRA LEONE IS A NATION WITH A WEALTH OF RESOURCES AND INVESTMENT AND THE NEW ERA WE HAVE AHEAD OF US, REQUIRES A UNITED EFFORT IF WE ARE TO MOVE BEYOND BEING A NATION OF GREAT POTENTIAL TO BECOMING ONE OF GREAT PURPOSE. “ ”

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Ebola Leone Rutile Mining Economic Operations Agriculture Economy Gangama Farming www.ftinsight.net