Sierra Rutile (ASX:SRX) recently announced that it has suspended all mining and processing activities at its Area 1 operations.

The company also stated the commencement of a redundancy program that will see 25% of staff receive redundancy notices by the end of March.

In response to the continually weak market conditions and uncertainty regarding the fiscal regime in Area 1 operations, this step has been taken.

Sierra Rutile (ASX:SRX) is hopeful that the interruption of Area 1 operations will be temporary.

Meanwhile, the company will use the funds from finished goods inventories for statutory termination benefits to those members of the workforce who are made redundant.

Furthermore, Sierra Rutile (ASX:SRX) may also consider conducting a strategic review of its Sembehun Project.

Sierra Rutile (ASX:SRX) is a multi-sector company that engages with the government of Sierra Leone, among other things.