The International Finance Corporation (IFC) will invest $60-million in mineral sands miner Iluka Resources’ Sierra Rutile operation, in Sierra Leone, the Perth-headquartered miner announced on Thursday.
The IFC would initially invest $20-million for a 3.57% stake, with a further $50-million planned to increase its shareholding to 10%, when the construction of early works for the Sembehun project was approved and when the environmental and social impact assessment of Area 5 was completed.