Prospects improve for W. African titanium

Now that the worst seems to be over in war-torn Sierra Leone, the owners of the Sierra Rutile titanium mine are working on a rebuilding plan.

Sierra Rutile (SRL), an equal partnership between Nord Resources (NRD-N) and Australian-based Consolidated Rutile, saw its operations damaged and its equipment pilfered after an armed attack by non-government forces in early 1995. The country has been in turmoil ever since, but a recent military action by a Nigerian-led coalition force appears to have succeeded in securing the capital, Freetown, so that the country’s democratically elected government can be reinstated.

Says Nord President Pierce Carson: “The company is encouraged that constitutional rule may soon return to Sierra Leone. But we are saddened by the loss of life and the dismal economic conditions suffered by the people.

We will be making every effort to accelerate the restart of SRL’s rutile operations for the benefit both of the people of Sierra Leone and our shareholders.”

No timetable for the resumption of operations has been set.