Ecobank lends $40 million to shift Kenyan plant to Sierra Leone. Cape Town, South Africa — Ecobank Sierra Leone has agreed a USD 40 million syndicated loan with Sierra Rutile Limited to move a mineral-sands processing plant from Kenya to Sierra Leone, extending the life of the world’s largest natural-rutile mine by at least 14 years, according to official statements released on 10 February at Mining Indaba 2026.
The Kwale facility, currently based in coastal Kenya, will be dismantled, shipped and re — installed at Sierra Rutile’s Sembehun project in southern Sierra Leone.
Local reports say the relocation is expected to cut capital spending for the incoming plant and allow continuous feed once the company’s existing Area 1 pit is exhausted.
A definitive feasibility study published last April estimates Sembehun holds enough rutile to support mining until 2040. Sebastian Ashong-Katai, managing director of Ecobank Sierra Leone, told journalists the transaction shows “Sierra Leone’s financial infrastructure is ready for large-scale, long-term investment.
” The facility is led by the Sierra Leone arm of the pan-African lender with participation from Ecobank Ghana; terms were not disclosed.
Sierra Rutile chief executive Lima Sufian — Kargbo called the loan “a vote of confidence in Sierra Leone’s mining sector,” adding that relocating an existing plant rather than ordering new equipment keeps costs down and shortens the timeline for first ore. Rutile, a high-grade titanium-dioxide mineral, is used to make white pigment, titanium metal and welding rods.
Official statements indicate the deal is the first time an African — owned bank group has financed the cross-border relocation of a major mining asset within the continent.
The move keeps the processing infrastructure on African soil and is being framed by regional officials as a step toward greater mineral beneficiation inside member economies. Shipments of dismantled sections are expected to begin later this year once port and road upgrade contracts are finalised; further details on shipping schedule and employment numbers were not immediately available.
The government has not released separate comment on environmental approvals for the new site. Further details are expected as construction crews prepare the Sembehun plant pad.
