https://www.miningweekly.com
Mining|SECURITY|Products
Mining|SECURITY|Products
mining|security|products

Rio Tinto boosts stake in graphite miner as China curbs exports

16th September 2024

By: Bloomberg

  

Font size: - +

Mining heavyweight Rio Tinto Group has increased its shareholding in an Australian-listed graphite developer to the maximum allowed before it must make a takeover offer, as China limits exports of the critical mineral.

Rio has boosted its stake in Sovereign Metals to 19.9%, the Perth-based company said Friday. Rio first bought 15% of Sovereign last year for A$40-million to fund a feasibility study into the development of its Kasiya mine in Malawi.

That deposit contains graphite — an important component in batteries for electric vehicles — and is also one of the largest discoveries of rutile, a rare titanium oxide used in everything from skincare products and paint to aerospace and defense applications given its high strength and light weight. The US and Europe have raised security concerns about China’s domination of supply of the metals, which intensified after Beijing last year announced restrictions on graphite exports.

To watch Creamer Media's latest video reports, click here
 

Edited by Bloomberg

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 06 December 2024
Magazine round up | 06 December 2024
6th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.366 0.399s - 145pq - 2rq
Subscribe Now