Sovereign Metals Ltd. is excited to reveal the results of its Scoping Study for recovering a monazite concentrate rich in heavy rare earths as a by-product from the Kasiya Project in Malawi, now renamed the Kasiya Critical Minerals Project to reflect its diverse product suite including rutile, graphite, and rare earths.
Managing Director and CEO, Mr. Frank Eagar, highlighted the significance of the findings: “The Kasiya Definitive Feasibility Study (DFS) already defines one of the largest natural rutile and flake graphite developments globally. This new Study shows we can also potentially deliver rare earths cost-effectively. For approximately US$29 million of initial capital, leveraging infrastructure designed and costed in the DFS, we could add around US$722 million in pre-tax value, achieving a 151% rate of return with payback in about 18 months.”
Rare earth elements are central to mineral-reliant industries that contribute over US$4 trillion annually to the U.S. economy. Despite doubling its rare earth production last year to nearly 9,000 tonnes, the U.S. still imports 67% of its rare earth consumption and produces none of the heavy rare earths like dysprosium, terbium, and yttrium at commercial scale. This ongoing dependence has prompted U.S. government measures including stockpiles and price supports.
Mr. Eagar emphasized Kasiya’s strategic potential: “Our project can supply five of the seven rare earths currently under Chinese export controls for at least 23 years from a project already at the definitive feasibility stage. Because rutile and graphite underpin the cost base, our rare earth extraction does not require high rare earth prices to be viable.”
Sovereign Metals will now use these promising Scoping Study results to engage with potential partners and integrate rare earths into Kasiya’s final development plans.
