– UK, London – Sierra Rutile Limited (AIM: SRX) is pleased to announce that Robert Edwards has agreed to join Sierra Rutile as Independent Non-Executive Chairman of the Board of Directors with effect from today. Robert Edwards will replace Michael Barton as Chairman, who stepped down on 2 March 2016, following his departure from Pala Investments, the Company’s majority shareholder, to pursue other career opportunities.
Robert Edwards has extensive experience in mining operations and the equity capital markets, with a particular focus on the natural resources sector. Robert Edwards began his career as a mining engineer prior to moving into investment banking at HSBC and then Renaissance Capital, where he was instrumental in developing the company from a single country broker into a successful resource investment bank focused on Africa, Asia and the CIS. Robert Edwards is currently a Director of MMC Norilsk Nickel (RTS: GMKN), GB Minerals Ltd. (TSX-V: GBL) and Highcross Resources Limited, and was previously a Senior Advisor to Royal Bank of Canada Capital Markets metals and mining investment banking division.
Richard Lister, Sierra Rutile’s Senior Independent Director, commented: “I would like to extend the Board’s appreciation to Mike Barton for his long-service as Director of Sierra Rutile and his board-leadership during his tenure as Chairman. The Company has developed into one of the leading producers of rutile under Mike’s chairmanship. At the same time, the Board is very pleased to welcome Robert to Sierra Rutile. He brings a wealth of broad-based emerging markets experience to Sierra Rutile and I look forward to working with him closely over the coming years. The Board felt it was an opportune time to appoint an Independent Non-Executive Chairman, and Robert is an excellent addition with the experience and skills to fulfil this role. We are also pleased to retain the strong support of Pala Investments through the continued presence of Stephen Gill and Philip Day as Directors of the Company.”
John Sisay, Sierra Rutile’s Chief Executive Officer, commented: “On behalf of the executive team, I welcome Robert to his role on the Board and I look forward to working with him. Robert’s extensive knowledge of mining, emerging markets, in particular Africa, and equity capital markets will complement the management team as we continue to realise the full potential of Sierra Rutile’s world-class asset. Robert’s addition to the Board marks another important step in the evolution of the company as Sierra Rutile continues to execute on its plan to build a flexible and capital efficient business focused on delivering industry leading shareholder returns.”
About Sierra Rutile Limited
Sierra Rutile produces titanium feedstock industrial minerals (primarily rutile, with some associated ilmenite), as well as smaller quantities of zircon. Sierra Rutile’s mines, located in the south west of Sierra Leone, are based on one of the largest natural rutile deposits in the world, with a JORC-Compliant Mineral Resource for measured, indicated and inferred resources for the Sierra Rutile mine of over 895 million tonnes (as at 30 September 2014).
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