KINETIC DEV (01277.HK): Sierra Leone Rutile Project Commences Production

NewTimeSpace News: On 6 October 2026, Kinetic Development Group Limited (stock code: 01277) issued a voluntary announcement providing an update on the progress of its Sierra Leone rutile project: on 23 December 2025, Kinetic Development Metal Mining (SL) Limited, an indirect wholly-owned subsidiary, entered into a cooperation agreement with Minenet Company Limited to jointly develop the rutile project in Rotifunk, Sierra Leone, with phase-1 construction investment of approximately US$18 million funded by internal resources and part of the proceeds from the placing of new shares.

The board announced that the rutile project commenced production on 1 October 2026: the first production line of phase 1 has completed construction and commissioning, and the second and third lines are expected to complete construction in mid-October and early November 2026 respectively. The project is located in Rotifunk, Moyamba District, Sierra Leone; Minenet's mining licence covers approximately 117 square kilometres with reserves of approximately 4.532 million tonnes, and the Group holds exclusive exploration, mining, processing and sales rights over the designated 50 square kilometres; the heavy mineral sands contain 30%-45% rutile (with titanium dioxide content of 95%).

Under the production plan, the three phase-1 lines will process approximately 6 million tonnes of ore annually with capacity of approximately 220,000 tonnes of heavy mineral sands, with 2026 output projected at approximately 26,000 tonnes; subject to stable operation of phase 1 and sufficient confirmed resources, phase 2 will add two production lines within 12 months, bringing total processing capacity to approximately 11 million tonnes and output to approximately 330,000-360,000 tonnes per year. All mineral products will be split 80% (Metal Mining) and 20% (Minenet), with each party responsible for its own sales; sales channels to the China market have been established and pricing follows a market-based, grade-linked mechanism.

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