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Iluka revives $375m Sierra Leone takeover

AAP logoAAP 6/12/2016

Mineral sands miner Iluka Resources has revived its $375 million takeover of Sierra Leone miner Sierra Rutile Limited, a week after the deal fell under a cloud due to geotechnical risks at the target's tailings dams.

Iluka said on Wednesday its concerns about leakage at SRL's Gangama dam site have been resolved after separate reviews by a senior operational team and an independent geotechnical consultant.

As a result, Iluka and the West African company have agreed that all required conditions for the merger have been fulfilled and the deal will be effectively completed on Wednesday evening (WST).

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