Commenting on the successful divestment of Pala's interest in Sierra Rutile, Stephen Gill, Pala Portfolio Manager, said:
"For Pala, this transaction represents the realisation of a successful investment in a niche minerals sector, and helps to ensure the ongoing growth of Sierra Rutile for the benefit of its stakeholders. We are proud of our contributions in the successful turnaround of Sierra Rutile's operations and its transformation into the world's largest producer of natural rutile.
I would like to especially thank John Sisay for his stewardship of the company as CEO and the efforts and dedication of the management team and employees in reinstating Sierra Rutile as the premier mining company in Sierra Leone. We are also appreciative of the long-standing support from Nedbank and Sierra Rutile's major shareholders, M&G Investments, JPMorgan Asset Management and Neon Liberty, who have followed us on this journey to help realise the potential of Sierra Rutile's world-class mineral sands asset."
Pala is an investment company focused exclusively on the mining sector with a strong track record of successful investments and value creation. Pala's team has extensive experience within the sector and seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative solutions in development, production, turnaround and advanced exploration situations. Pala invests across all geographies and in all mining commodities as well as mining services and consumables. For more information, visit http://www.pala.com.
Contact: Richard Brown, Tel: +41-41-560-9070
SOURCE Pala Investments