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Sierra Rutile to suspend operations on March 11th this year

Dear All,

Sierra Rutile’s Board and Management have taken the decision to temporarily suspend its operations effective 11th March 2024 until further notice. A Notice of Suspension has also been issued to Government of Sierra Leone (GoSL). Therefore, from the 11th of March, all staff will be required to stay at home apart from a selection of skeletal staff including security staff to maintain our assets. All staff will be paid their full salary unless and until otherwise advised.
 
This temporary suspension is intended to allow time for Sierra Rutile and GoSL to reach a mutually agreeable resolution on the fiscal regime that will apply to Area 1, while the company focuses on restructuring the business, lowering our costs, and realigning our production plans in the light of current global market conditions affecting the demand for, and price of, rutile.
 
We understand that this will add a layer of uncertainty for staff, but we urge you to be patient while we take the necessary steps to remodel our business for a better future and reach agreement with GoSL on an appropriate fiscal regime that would again support production, alongside supportive market conditions.
 
Kind regards
 
Barry Honnah
HR Manager

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