Sierra Minerals to build a value-adding alumina trihydrate plant in Sierra Leone

Sierra Mineral Holdings 1 Limited, subsidiary of Vimetco N.V., reportedly discussed its expansion plans with the country’s Ministries of Finance and Mines last week. The plans involve the construction of a value-adding alumina trihydrate plant within its concession, in support with the Pan-African Bank of Development and Afrexim Bank. Afrexim Bank, in particular, will act as the financial advisor and lead mandated arranger to help the company raise capital for the project.

Since alumina trihydrate has a wide range of uses starting from aluminium and ceramics production to water purification, flame retardant filler and many more, the development of this plant is expected to create thousands of new jobs and businesses in various industries.

Also, this proposed plant if developed successfully will be the first in the development of the mining industry of Sierra Leone.

This project is believed to further lead to the expansion of key infrastructures, such as schools, hospitals, roads, and bridges, and most importantly will generate millions of dollars in export revenue for the country. Currently, Vimetco provides more than 1,500 jobs and supports orphanages, schools, and some major social events in the country.

The construction of the proposed alumina trihydrate plant is scheduled to start in 2020, and the production to commence in June 2022.

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