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Titanium Resources Group
Titanium Resources Group (TRG), which set up operations in Sierra Leone in 1967, has faced a number of major challenges over the years, including extensive war damage and an accident which reduced its production capacity. Today, TRG is persevering in its effort to regain its 1994 production level, when it was the world’s number one producer of natural rutile. TRG can count on solid financial backing from its diverse shareholders, which include the Zurich Fund, JP Morgan, Investec, Black Rock, the government of Sierra Leone and private individuals.
Well-Established Mining Operation Expanding Significantly
CEO John B. Sisay, a native of Sierra Leone, is very positive about TRG’s future. He says, “This company has very capable management and the best engineers, and we are making major investments in expanding our production.” Titanium Resources currently achieves around €28.5 million (US$40 million) in annual revenues, but its current expansion will help it increase that to around €42.7 million(US$60 million) next year.
TRG has invested around €141.1 million(US$200 million) in its plant since 2005. Once it boosts its production it plans to expand into other countries. “We want Sierra Leone to be our signature mining operation as we expand to different countries and we aim to be one of the world’s leading medium-sized mining companies,” John Sisay explains.
Focus on benefiting local community
TRG will continue to support a number of corporate social responsibility projects in Sierra Leone. It funds several scholarships and has built a technical training school and launched a foundation. “We take our responsibilities to the local community very seriously,” John Sisay points out.
John Sisay encourages foreign investors to target Sierra Leone. He says, “The government’s attitude towards the private sector, specifically mining, has changed significantly over the past 10 years. Formerly, everyone knew that mining was necessary but no one really liked it. But now, people are beginning to understand that if managed properly, mining can kick-start economic recovery, which it has already done here to a large extent.”
TRG stands out among mining enterprises in Sierra Leone because of its long-term presence and proven support for the country’s people. John Sisay concludes, “The other mining companies here are at the exploration stage, and mining different minerals, whereas we are established. In addition, we are determined to make sure that we develop capacity in the local workforce. We are seen as a long-term player. We had value, we lost it, and we know that the only way to rebuild it is by steadily improving.”
Titanium Resources Group
20 Hill Cot Road
Hill Station, Freetown
Tel.: +44 207 100 9214