Thursday, November 22, 2007

Titanium Resources commissions second dredge at Sierra Rutile mine

image LONDON (Thomson Financial) - Titanium Resources Group Ltd said it has commissioned the second dredge at its Sierra Rutile mine in Sierra Leone to double rutile production capacity to 200,000 tonnes per annum.

The mining company said it expects the dredge to start commercial production in December and that the company expects to begin shipping the material produced by the dredge in the first quarter of 2008.

Titanium Resources Group said the doubling of rutile production will help the company to further consolidate its position in rutile markets and increase market share to about 23 pct.

"We are now focussed on expanding production capacity at Sierra Rutile by a further 40,000 tonnes with the development of a third dredge which we expect to complete in mid 2008," chief executive Len Comerford said in a statement.

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