Sovereign Presents at Minerals Security Event

Sovereign Metals Limited

24 September 2024

 

NEWS RELEASE I 24 SEPTEMBER 2024

SOVEREIGN PRESENTS AT MINERALS SECURITY PARTNERSHIP EVENT DURING UN GENERAL ASSEMBLY

·   Sovereign presented at the inaugural 2024 MINVEST/MSP Finance Meeting during the UN General Assembly in New York following an invitation from the U.S. Department of State and SAFE Center for Critical Minerals

·   Panel discussion titled "Mining Titans and New Horizons" took place between Rio Tinto CEO Mr Jakob Stausholm and Sovereign Chair Mr Ben Stoikovich 

·   Meeting convened senior officials from MSP countries, development finance and export credit agencies, MSP governments and private sector participants

·   U.S. Government and key partner countries established the MSP in 2022 to accelerate the development of diverse and sustainable critical energy minerals supply chains

·   MINVEST is a public-private partnership between the U.S. Department of State and SAFE Center for Critical Minerals Strategy

·   Sovereign is focused on developing its Tier 1, globally strategic Kasiya Rutile-Graphite Project in Malawi

·   Kasiya is the world's largest natural rutile deposit - the purest, highest-grade naturally occurring titanium feedstock - and the world's second-largest flake graphite deposit - a battery mineral essential for the Energy Transition

·   Rio Tinto currently owns a 19.9% interest in Sovereign as a strategic investor

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Classification 2.2: This announcement includes Inside Information

Sovereign Metals Limited (ASX: SVM; AIM: SVML; OTCQX: SVMLF) (Sovereign or the Company) is pleased to announce that the Company was invited to and participated in a panel discussion at the inaugural 2024 MINVEST / Minerals Security Partnership (MSP) Finance Meeting (Meeting) in New York, U.S., during the United Nations General Assembly (UNGA), on Monday 23 September 2024.

The panel titled "Mining Titans and New Horizons" was moderated by Dr Zainab Usman, Senior Fellow and Director, Carnegie Endowment for International Peace and participants were Mr Jakob Stausholm, CEO, Rio Tinto, and Mr Ben Stoikovich, Chair, Sovereign.

The discussion highlighted factors that attract major mining companies and investment, exploring how initiatives like the MSP can support investment flow into resource-rich countries, while spurring economic development.

Speaking at the Meeting on its importance, U.S. Deputy Secretary of State, The Hon. Kurt Campbell, commented: "If we are going to be successful ultimately not only in the clean energy revolution but generally in technology, it will be because of this pursuit."

Sovereign attended the Meeting following an invitation to present, alongside Rio Tinto CEO Mr Jakob Stausholm, by the Minerals Investment Network for Vital Energy Security and Transition (MINVEST), a public-private partnership between the U.S. Department of State and SAFE Center for Critical Minerals. The Meeting took place during UNGA in New York, presenting an opportunity for convergence of several MSP government officials, as well as representatives from their development finance institutions, and export credit agencies.

Figure 1 (Left to Right): Dr Zainab Usman, Senior Fellow and Director, Carnegie Endowment for International Peace, Rio Tinto CEO Jakob Stausholm, Sovereign Chair Mr Ben Stoikovich at the MSP Finance Meeting in New York

The Hon. Jose W. Fernandez, U.S Under Secretary for Economic Growth, Energy, and the Environment, stated that the MSP Finance Network would provide a platform for MSP export credit agencies, development finance institutions, and state-backed investment funds to derisk projects and will "address financing for critical minerals projects" and "send a powerful signal to markets about the importance of securing and diversifying critical mineral supply chains".

Investors, stakeholders and other interested parties can view the opening remarks from the Meeting through the following link: https://www.youtube.com/watch?v=efQBjMNFV1I.

Select Attendees

MSP Partner Representatives who attended the event and in the audience during the panel discussion included:

-     U.S. Department of State,

-     U.S. Department of Defense - Office of Strategic Capital,

-     U.S. Department of Energy,

-     Export-Import Bank of the U.S,

-     United States Trade and Development Agency,

-     Japan Bank for International Cooperation,

-     Government of Japan Ministry of Economy, Trade and Industry,

-     Japan Organization for Metals and Energy Security (JOGMEC),

-     Republic of Korea Ministry of Foreign affairs,

-     Export-Import Bank of Korea (KEXIM), and

-     Ministry of Trade and Industry, Malawi.

Private sector attendees included:

-     Rio Tinto,

-     BHP,

-     Anglo American,

-     Glencore,

-     BlackRock, and

-     General Motors.

About the MSP

In June 2022, the U.S. Government and key partner countries announced the establishment of the MSP - a collaboration of 14 countries and the EU to catalyse public and private investment in responsible critical minerals supply chains globally.

The MSP aims to accelerate the development of diverse and sustainable critical energy minerals supply chains through working with host governments and industry to facilitate targeted financial and diplomatic support for strategic projects along the value chain. MSP partners include Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, the United States, and the European Union (represented by the European Commission). 

About MINVEST

MINVEST is a public-private partnership between the U.S. Department of State and The Center for Critical Minerals Strategy (SAFE) to promote public-private dialogue and spur investment in strategic mining, processing, and recycling opportunities that adhere to high environmental, social, and governance (ESG) standards. MINVEST has two primary goals.

-    Goal 1: Infuse private sector perspectives into U.S. critical minerals foreign policy development and implementation. 

-   Goal 2: Convene public and private stakeholders to facilitate investment in responsible and strategic critical minerals projects.

About SAFE Center for Critical Minerals

The SAFE Center is a non-partisan, non-profit organization established to enhance United States energy security and supports its economic resurgence and resiliency by advancing transformative transportation and mobility technologies and ensuring that the United States secures key aspects of the technology supply chain to achieve and maintain its strategic advantage.

The SAFE Center aims to develop policies that ensure critical mineral supply chains support the foreign and military policy of the United States, reflect its interests and values, and continue to strengthen American competitiveness.

ENQUIRIES

Frank Eagar (South Africa/Malawi)
CEO & Managing Director

[phone]

Sapan Ghai (London)
CCO

[phone]

Nominated Adviser on AIM and Joint Broker
SP Angel Corporate Finance LLP	[phone]
Ewan Leggat Charlie Bouverat
Joint Brokers
Stifel	[phone]
Varun Talwar
Ashton Clanfield
Berenberg	[phone]
Matthew Armitt
Jennifer Lee
Buchanan	+ 44 20 7466 5000

Forward Looking Statement

This release may include forward-looking statements, which may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These forward-looking statements are based on Sovereign's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

 

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