Leading German laboratories ProGraphite and Dorfner Anzaplan have confirmed Kasiya Rutile- Graphite Project qualification for refractory applications.
Sovereign Metals Limited, the firm behind the project, made the announcement as part of its efforts to attract investors on the London Stock Exchange.
Sovereign Metals said the test results show that Kasiya graphite concentrate has very low sulphur levels and minimal impurities, offering a competitive advantage in the global graphite market.
In the statement, Sovereign Metals managing director and chief executive officer Frank Eagar stressed that nearly all of Kasiya’s graphite meets the size for refractory use, which typically demands larger flake sizes that attract premium prices compared to the smaller flakes used in battery production.
“The refractories market is the second-largest end-user of natural graphite, and today’s
results confirm that our graphite product meets or exceeds the key chemical and physical properties required for this sector.
“Combined with the excellent results for battery anode materials, this highlights the premium quality of Kasiya graphite concentrate,” Eagar said.
The announcement is expected to further bolster investor confidence, especially as Sovereign Metals seeks to expand its presence on the London Stock Exchange.
The refractories industry is critical to various sectors, including steel production, non-ferrous metals, cement, glass, and chemicals. Steel production alone accounts for about 60 percent of global refractory demand, with each tonne of steel requiring 10 to 15 kilogrammes of refractories.
Graphite used in refractory applications achieved prices of up to $1 193 (about K2.1 million) per tonne in the fourth-quarter of 2024, significantly higher than the $564 (about K987 000) per tonne fetched by smaller flakes used in battery anodes, according to Benchmark Mineral Intelligence data.
Sovereign Metals notes that with Kasiya’s incremental production cost at just $241 (about K421 750) per tonne, the project is well-positioned to yield substantial profit margins, making it an attractive opportunity for local and international investors.
However, the Minority Shareholders Association of Listed Companies (Misalico), who have been advocating for local participation in large-scale mining, has urged the Ministry of Mining to push for dual listing of companies in the mining sector to bolster local participation in large-scale mining.
Dual listing would imply that companies operating large scale mines in Malawi would be required to list on the Malawi Stock Exchange (MSE).
Misalico secretary general Frank Harawa said: “We want these large scale mining companies to list on the MSE so that Malawians from all walks of life should have an opportunity to own shares. Let them raise capital locally in Malawi kwacha.”
