Ecobank, Sierra Rutile Seal $40 Million Deal to Transfer Kenya Mineral Sands Plant to Sierra Leone

Ecobank Sierra Leone and Sierra Rutile Limited have signed a landmark $40 million syndicated financing agreement to support the relocation of a mineral sands processing plant from Kenya to Sierra Leone.

The agreement was announced on Day Two of the 2026 Mining Indaba in Cape Town, one of Africa’s largest gatherings of mining industry stakeholders.

According to details of the transaction released at the event, the $40 million facility will finance the transfer and installation of the mineral sands processing plant in Sierra Leone. The relocation is expected to extend the life of Sierra Rutile’s mining operations by an estimated 14 years.

Ecobank Sierra Leone and Sierra Rutile described the deal as a significant step in strengthening intra-African industrial cooperation. The relocation of the plant from Kenya to Sierra Leone is seen as an example of cross-border collaboration within the continent’s mining sector.

The financing arrangement was presented as a syndicated facility led by Ecobank Sierra Leone, underscoring the bank’s role in supporting large-scale industrial projects in the country. By backing the relocation, Ecobank is positioning itself as a key financial partner in Sierra Leone’s mining sector.

Sierra Rutile Limited, a major mineral sands producer in Sierra Leone, is expected to use the facility to fund the logistics, installation, and operational integration of the processing plant. The extension of mine life by 14 years is anticipated to provide long-term operational stability for the company.

The transaction was described at Mining Indaba 2026 as a demonstration of African financial leadership and sustainable mining practices. Stakeholders at the event noted that the deal highlights the role of pan-African partnerships in driving long-term economic growth across the continent.

Mining Indaba continues this week in Cape Town, bringing together investors, governments, mining companies and financial institutions to discuss investment and development opportunities in Africa’s mining industry.