Iluka’s Sierra Leone deal under cloud

Mineral sands miner Iluka Resources has delayed its proposed merger with Sierra Rutile Limited after detecting geotechnical risks at its tailings dams.
Source: 
AAP
29 NOV 2016 – 9:14 AM  UPDATED YESTERDAY 9:14 AM
Mineral sands miner Iluka Resources has put on ice its planned $375 million takeover of Sierra Leone miner Sierra Rutile Limited after detecting geotechnical risks at the West African company’s tailings dams.
Iluka says it is consulting with SRL over the matter but, if the two companies cannot extend the deal deadline within five business days after the current November 30 deadline, either party may terminate the agreement and it will not close on November 29 as previously stated.
The major producer of zircon and rutile in August announced it would pay SRL’s shareholders 36 pence ($A0.63) per share in the proposed merger.

About Patric Foryoh

Patric Foryoh Daboh is a blogger, Political, social activist,a satirist and co-founder & Co Editor of Makoni Times Newspaper based in United States of America. He studied Multimedia in the United States.He has met and interviewed personalities including Former vice-president of Sierra Leone Alhaji Sam Sumana, late Tamba Sam SLPP Secretary General , Gloria Strasser , David Tam Mbayoh , Agibu Jalloh, Chernor Bah, Murtala Mohamed , Mohamed Kamarainba Mansaray, J. Arr, Nasser Ayoub, Alpha Timbo, Robin Farley, Bai Mahmoud, and many more. Patric has produced the "Diolog" show at the TPN radio and was the social media correspondent for TPN . He has appeared on numerous daily newspapers publication in Sierra Leone. He blogs at Sierra Leone one man civil society blog on relationship, sex, marriage, faith & culture, politics, religion. He was the programming manager at Mamba TV. Patric Foryoh was named as the 54 Most Influential People in Sierra Leone by Swit Salone.com Patric Foryoh represents the new wave of new voices in Sierra Leone/Africa media who are breaking boundaries and charting new territories. He is a husband and a father of a son and a daughter.

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