Sovereign Metals Ltd at 121 Mining Investment Cape Town Conference Transcript
Well, the last 12 months has been transformational for Sovereign Metals. We have actually found the largest rutile deposit in the world, which comes along as well as the second largest graphite deposit in the world in Malawi. What's rutile? Well, it's the world's purest natural source of titanium going into the pigment, welding, and titanium and metal industries, aerospace, et cetera. It's 95% TiO2 and compared to ilmenite, which is 50% TiO2, obviously the preferred source of natural titanium for many industrial uses particularly in welding and pigment.
Rutile these days are fetching around $1,500 a tonne contract and with spot well over $2,000 a tonne compared to ilmenite at sort of $200 to $400 a tonne. It's a genuinely scarce commodity. We see substantial or very substantial supply coming out of the market over the next 5 to 10 years. This graphic doesn't include Sovereign Metals coming into production in probably 2026. And as you can see, we have a huge supply gap there that we will be able to fill.
So what
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