Rio Tinto to Invest USD27.5 Million in Sovereign Metals

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Rio Tinto has announced plans to invest AUD40.4 million (US$27.5 million) to acquire a 15% stake in Sovereign Metals Limited.

The investment funds will be utilized to advance the Kasiya Rutile-Graphite Project in Malawi. Rio Tinto's investment is a significant milestone in unlocking a substantial supply of low-CO2-footprint natural rutile and flake graphite. According to the Investment Agreement, Rio Tinto will offer technical and marketing guidance for Kasiya, particularly concerning Sovereign's graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market. As part of the subscription, Rio Tinto will also receive options to acquire an additional 34,549,598 shares in Sovereign within 12 months of the initial subscription. This could potentially increase Rio Tinto's shareholding in the Company up to 19.99%.

List of the country updates

Country updates

  • May 23, 2023

    Investment approved for IFM US Infrastructure Debt Fund

    Sacramento County Employees’ Retirement System (SCERS) has approved a US$35 million follow-on commitment to the IFM US Infrastructure Debt Fund. The IFM US Infrastructure Debt Fund focuses on c...

    Read more
  • May 18, 2023

    Newmont Corporation to acquire Newcrest Mining

    American gold miner Newmont Corporation has announced the acquisition of Australia-listed Newcrest Mining. The deal represents the creation of the world's biggest gold producer and is worth...

    Read more
  • May 16, 2023

    Vocus completed the acquisition of Challenge Networks

    Australia's telecoms provider, Vocus, has completed the acquisition of Challenge Networks, a provider of private LTE and 5G networks. With the inclusion of Challenge Networks under Vocus, a wider ran...

    Read more
  • May 15, 2023

    Dexus funds acquired majority stake in Royal Adelaide Hospital PPP in South Australia

    Dexus announced that its funds Dexus Community Infrastructure Fund (CommIF) and Dexus Healthcare Property Fund (DHPF) have acquired a total of 30.58% stake in Celsus, the consortium that manages...

    Read more
  • May 15, 2023

    Dexus funds acquired stake in Celsus

    Dexus announced the Dexus Community Infrastructure Fund (CommIF), Dexus Healthcare Property Fund (DHPF) and AMP Capital Core Infrastructure Fund (CIF) have acquired a combined 30.58% interes...

    Read more

Share this update