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Iluka moves to buy Sierra Leone miner

AAP logoAAP 1/08/2016

Australian based miner Iluka Resources Limited has made an offer to buy a Sierra Leone mining company for STG 215 million ($A375 million).

Iluka, a major producer of zircon and rutile, announced an offer to the Australian and English stock exchanges to purchase Sierra Rutile Limited (SRL) and its rutile mining operations in Sierra Leone.

SRL's shareholders will receive 36 pence ($A0.63) per share in the proposed merger.

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