Sovereign Metals says Chinese export restrictions boost case for Kasiya Rutile-Graphite Project | News Direct

Sovereign Metals says Chinese export restrictions boost case for Kasiya Rutile-Graphite Project

Sovereign Metals Ltd
News release by Sovereign Metals Ltd

facebook icon linkedin icon twitter icon pinterest icon email icon Melbourne, Victoria | October 30, 2023 05:30 PM Eastern Daylight Time

Sovereign Metals Limited's recently-appointed managing director and CEO Frank Eagar joined Proactive's Stephen Gunnion with insights on the company's operations and the mining potential in Malawi. Having been with the company since the previous December, Eagar said he is focused on transitioning the company's Kasiya Rutile-Graphite Project from the pre-feasibility stage to the definitive feasibility study, emphasizing the importance of on-ground efforts and community engagement. Eagar highlighted his vast experience in neighbouring African countries, noting that Malawi has proven to be more welcoming and receptive. The company aims for a final investment decision by the end of 2025, considering the numerous variables and intricate steps involved in moving a mining project into production. A significant endorsement came with Rio Tinto's investment in Sovereign Metals. Eagar pointed out that Rio Tinto's involvement underscores the project's potential and adds credibility, allowing them to avoid going back to the market for funding. Additionally, with China's potential export restrictions on materials like graphite, Eagar emphasized the project's strengthened position. More than half of the company's revenue could stem from graphite, with the capacity to be a secure supply source for 75-100 years. The eco-friendly approach of Sovereign Metals, boasting the lowest global warming potential, further accentuates the project's attractiveness to international investors.



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