Sierra Rutile hikes production guidance but sees 'soft' demand

Sierra Rutile, the AIM-listed producer of titanium feedstock industrial minerals, saw record production of both rutile and ilmenite in the third quarter, leading it to raise its output guidance for the full year.

Sierra Rutile, the AIM-listed producer of titanium feedstock industrial minerals, saw record production of both rutile and ilmenite in the third quarter, leading it to raise its output guidance for the full year.

The company, which operates in the south-west of Sierra Leone, produced 236,381 tonnes of rutile in the three-month period, 4% higher than the highest previous quarter in the fourth quarter of 2006. The better-than-expected volumes were also 45% ahead of the 18,197 tonnes produced in the third quarter of 2011. Meanwhile, ilmenite production was also above budget and 23% ahead of the 4,306 tonnes produced the year before.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.