SVM - Sovereign Metals welcomes Rio Tinto as strategic investor
(NewsDirect)
SovereignMetals Limited (ASX:SVM, OTC:SVMLF, AIM:SVML) managing directorJulian Stephens tells Proactive that Rio Tinto is making an investmentof A$40.4 million in Sovereign resulting in an initial 15%shareholding. The investment proceeds will be used to advance theKasiya Rutile-Graphite Project in Malawi. He says the landmark dealwith Rio is confirmation of Kasiya’s place as one of the mostsignificant critical mineral discoveries in recent times.
“The experience and expertise that RioTinto brings will truly set Kasiya apart as a potentially globallysignificant supply of two critical minerals and take us all a stepcloser to supply chain decarbonisation and achieving net-zero.
“Furthermore, this is yet another steptowards unlocking significant benefits from development of the Kasiyaproject for Malawi.
“We welcome Rio Tinto as a majorshareholder of Sovereign and look forward to working with Rio Tinto asour strategic partner in the development of Kasiya.”
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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