Sovereign Metals says Kasiya has potential for industry-leading returns
Melbourne, Victoria
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September 28, 2023 03:00 PM Eastern Daylight Time
Sovereign Metals Ltd (ASX:SVM, AIM:SVML) MD Julian Stephens speaks with Proactive after announcing the results of a PFS for the company’s flagship Kasiya Rutile-Graphite Project in Malawi. He says it is a major critical minerals project with an extremely low carbon footprint underpinned by significant economic returns. Kasiya is the largest natural rutile deposit and second-largest flake graphite deposit in the world. The PFS is modelled on a life-of-mine (LOM) of 25 years, with initial probable ore reserves of 538 million tonnes, representing a conversion of only 30% of the total mineral resource. Kasiya is forecast to become the world’s largest rutile producer at 222,000 tonnes per annum and potentially one of the world’s largest natural graphite producers outside of China at 244,000 tonnes per annum.
“The release of the Kasiya PFS marks another important step towards unlocking a major source of two critical minerals required to decarbonise global supply chains and to achieve net-zero,” Stephens said.
“The project benefits from existing high-quality infrastructure and inherent ESG advantages.
“Natural rutile has a far lower carbon footprint compared to other titanium feedstocks used in the pigment industry, and natural graphite is a key component in lithium-ion batteries – crucial to de-carbonising the global economy.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
