Sovereign finds offtake partner for Malawi rutile
PERTH (miningweekly.com) – ASX-listed Sovereign Metals has started offtake talks with titanium dioxide pigment producer The Chemours Company over a potential 20 000 t/y of natural rutile from the Kasiya project, Malawi.
The company has signed a non-binding memorandum of understanding (MoU) covering the Stage 1 operation at Kasiya and an option to take additional product when Kasiya reaches Stage 2 nameplate capacity.
The MoU will expire two years from the execution date but can be extended by agreement by both parties should a definitive agreement not have been reached by that time.
“To have signed an MoU for the supply of natural rutile to Chemours, a global leader in the titanium dioxide pigment industry, is a true testament to the quality and strategic nature of our world-class Kasiya project in Malawi. We are excited to be working with Chemours as a future offtake partner for our premium, low-carbon-footprint rutile products,” said Sovereign MD Dr Julian Stephens.
A June expanded scoping study into the Kasiya project found that it could produce 265 000 t of rutile and 170 000 t of graphite at steady-state production, with a mine life of 25 years. Annual production rates have been estimated at 242 000 t/y of rutile and 155 000 t/y of graphite.
The Stage 1 operation would produce 145 000 t/y of natural rutile and 85 000 t/y of flake graphite, while Stage 2 would add 12-million tonnes of capacity for a total of 24-million tonnes of ore processed a year, producing 260 000 t/y of natural rutile and 170 000 t/y of flake graphite.
The scoping study estimated that capital cost for the Stage 1 development would be $372-million, with operating costs estimated at $320/t.
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