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Sierra Rutile secures 70,000 tonne rutile deal with pigment producer

Mineral sands company Sierra Rutile has entered into a 70,000 tonne rutile supply agreement with a major pigment producer, an update issued by the company on Monday disclosed.

Mineral sands company Sierra Rutile has entered into a 70,000 tonne rutile supply agreement with a major pigment producer, an update issued by the company on Monday disclosed.

The company, which operates in Sierra Leone, reported that the contract would be valid until December 31st 2014 and consisted of seven 10,000 tonne shipments of rutile - representing one per calendar quarter. It said that the contract secured sales of a substantial portion of Sierra Rutile's production for the remainder of 2013 and into 2014.

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Rutile is a raw form of titanium dioxide and is one of a number of feedstock used in the production of white pigment, which is commonly used in the global manufacture of paint, plastics and paper.

Sierra Rutile's share price was up 3.25% to 63.50p at 12:50 on Monday.

MF

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