Sovereign Metals Completes US$2.2 Billion Definitive Feasibility Study for Kasiya Project
During the June 2026 quarter, Sovereign Metals Ltd completed a definitive feasibility study (DFS) for its Kasiya Critical Minerals Project in Malawi, revealing significant economic potential with an estimated pre-tax net present value of US$2.2 billion. The DFS outlined capital expenditure to first production at US$727 million and projected steady-state annual EBITDA of US$476 million over a 25-year mine life. The project is expected to produce natural rutile and flake graphite, with total revenue estimated at US$16.2 billion. A staged development plan includes two processing plants, using dry mechanical mining methods that eliminate the need for traditional extraction processes like drilling or milling. The company has also submitted a mining license application. Sovereign is focusing on positioning Kasiya as an alternative to Chinese sources of titanium and graphite in the U.S., with plans to formalize off-take agreements while engaging stakeholders. Additionally, monazite testwork uncovered potential for rare earth elements not included in DFS economics.
Topics: critical minerals feasibility study mining project development