Sovereign Metals: Signs offtake deal with major rutile supplier Hascor

Sovereign Metals Signs offtake deal with major rutile supplier Hascor

• Sovereign Metals (SVM) signs an offtake agreement with Hascor International Group for rutile from its Kasiya project in Malawi
• Hascor is a multinational ferroalloy and metal powder supplier and is also a key processor and global distributor of natural rutile products for the welding industry
• Through a memorandum of understanding, SVM will supply 25,000 tonnes of natural rutile per year to Hascor’s processing plants and clients across five continents
• Subject to negotiations, the initial five-year agreement is set to come in to effect once nameplate production begins
• Shares are trading 11.1 per cent higher at 45 cents at market close