Premium natural flake
graphite from Malawi.
East Africa is well-known for its premium flake graphite quality, with major deposits located in Mozambique, Tanzania and Malawi. Sovereign Metals Limited (ASX:SVM) is developing its 100%-owned, Duwi flake graphite deposit located just 15km from Malawi’s capital, Lilongwe. The Company is targeting the traditional expandable flake graphite market, and the fast-growing rechargeable battery market.
Sovereign’s Duwi deposit is large and high grade (86Mt @ 7.1% TGC) with an excellent distribution of jumbo and coarse flake graphite produced in high grade concentrates. Duwi has enviable infrastructure with grid power, rail, road networks and an international airport all easily accessible.
In 2015, Sovereign completed a Scoping Study which confirmed Duwi to have the potential to be a world-leading, high margin flake graphite project.
In October 2015 Sovereign entered into a Strategic Offtake and Development Funding Partnership with major Chinese corporation China Volant Industry Co Ltd (“Volinco”), pursuant to which Volinco and the Company will work together to secure development funding and long term graphite offtake arrangements in mainland China.
Sovereign also controls a commanding 3,788km² tenement package in central Malawi that contains a number of other advanced flake graphite prospects. These include the Malingunde deposit which is hosted in saprolite (clay). Saprolite-hosted deposits are sought after because they may have lower production costs over hard rock deposits due to their low strip, free-dig and easy-milling nature with no little or no primary grind required.
14 October 2016
Placement to Strategic Institutional Investor
12 October 2016
Highest Grade Hand Auger Results to Date at Malingunde