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Sovereign Metals PLC on Friday reported a narrower loss in its first half, noting talks ‘with US-based and ’allied-nation offtakers‘ for its Kasiya prospect. Shares in the Perth, Australia-based mining company traded 0.7% higher at 49.35 pence on Friday morning in London, and are up 12% over the past year. For the six months ended December 31, Sovereign’s pretax loss narrowed to A$9.0 million, or £4.7 million, from A$19.5 million the previous year, while net interest income ticked up to A$902,176 from A$1.0 million. The company declared no interim dividend, unchanged on-year. Nonetheless, it was confident in its development plans, specifically at the Kasiya rutile and graphite mine in Malawi. According to Sovereign, the site is ’the world’s largest natural rutile deposit‘, with rutile being the ’highest-grade naturally occurring titanium feedstock‘. The site is also the second largest flake graphite deposit globally, Sovereign noted, boosting its potential for exploitation in the battery mineral supply chain. The company completed a pre-feasibility study of Kasiya in 2025, and is working to complete the definitive feasibility study within the next few month. It is also negotiating ’with US-based and allied-nation offtakers‘, having signed a non-binding deal with Traxys North America for graphite marketing from Kasiya. That deal targets 40,000 tonnes of graphite concentrate annually in its first phase, which is due to last five years, before ramping up to 80,000 tonnes per year. Kasiya also has support from the World Bank Group’s International Finance Corp. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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