Japan backs corridor boosting Sovereign Metals project

JAPAN has launched a dedicated investment initiative targeting the Nacala Corridor infrastructure, significantly strengthening the strategic positioning of ASX-listed Sovereign Metals’ Kasiya rutile and graphite project in Malawi.The announcement follows confirmation by Japan’s Toho Titanium on June 10 that natural rutile from Kasiya meets specifications for high-performance titanium metal production, establishing market credentials aligned with Japan’s priority of securing critical minerals supply chains.At the ninth Tokyo International Conference on African Development in Yokohama, Japanese Prime Minister Shigeru Ishiba announced a “new region-wide co-creation for common agenda initiative that promotes logistics in the Nacala Corridor, which contributes to strengthening mineral resource supply.”Sovereign Metals CEO Frank Eagar said Japan’s commitment “validates our strategic positioning and creates powerful opportunities for Kasiya’s development,” noting the initiative demonstrates “the highest level of government backing for the corridor that underpins our project economics.”Japan’s $7bn commitment includes $5.5bn through the Enhanced Private Sector Assistance for Africa programme via the African Development Bank, plus $1.5bn through Japan’s development agency for direct private sector investment.The initiative targets mining and agricultural sector development in Malawi, Mozambique and Zambia by eliminating corridor bottlenecks.For Sovereign, the Nacala Corridor provides the preferred transportation route for its forthcoming definitive feasibility study, offering direct access to the deep-water Port of Nacala and a low-cost pathway to global markets.The post Japan backs corridor boosting Sovereign Metals project appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com