Sovereign Metals Signs MoU with Japanese trading house
- Sovereign Metals (SVM) signs a non-binding memorandum of understanding (MoU) with Japanese trading house, Mitsui & Co
- The contract establishes a marketing alliance and offtake for 30,000 tonnes of national rutile per annum from SVM’s Kasiya rutile project in Malawi
- Additionally, the MoU will create a marketing alliance between the parties to jointly market Sovereign’s rutile across Asia and other markets
- The companies are currently discussing final decisions before signing the an offical agreement
- SVM shares jump 2.15 per cent on the market, trading at 47.5 cents at 12:15 pm AEST
