REG - Sovereign Metals Ltd - Sovereign Presents at Minerals Security Event

Sovereign MetalsAnnouncement

24/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240924:nRSX3411Fa&default-theme=true

RNS Number : 3411F  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

·

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
(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

+27 21 065 1890

 

Sapan Ghai (London)

CCO

+44 207 478 3900

 

 Nominated Adviser on AIM and Joint Broker
 SP Angel Corporate Finance LLP             +44 20 3470 0470
 Ewan Leggat

 Charlie Bouverat

 Joint Brokers
 Stifel                                     +44 20 7710 7600
 Varun Talwar
 Ashton Clanfield

 Berenberg                                  +44 20 3207 7800
 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGGGDCDSDDGSS