{"id":48134,"date":"2023-07-18T08:16:03","date_gmt":"2023-07-18T08:16:03","guid":{"rendered":"https:\/\/peymantaeidi.net\/stem-cell\/?p=48134"},"modified":"2023-07-18T09:00:18","modified_gmt":"2023-07-18T09:00:18","slug":"rio-tinto-to-invest-aus40-4-million-and-become-a-15-strategic-investor-in-sovereign","status":"publish","type":"post","link":"https:\/\/peymantaeidi.net\/stem-cell\/2023\/07\/18\/rio-tinto-to-invest-aus40-4-million-and-become-a-15-strategic-investor-in-sovereign\/","title":{"rendered":"Rio Tinto to invest AUS$40.4 million and become a 15% strategic investor in Sovereign"},"content":{"rendered":"<header>\n<p>\n                            <small><\/p>\n<p>                                <span id=\"saveListBtn\" class=\"noscript\"><br \/>\n                                        <span class=\"pull-right save-read-list\"><br \/>\n                                            <button type=\"button\" class=\"btn btn-xs btn-warning\" data-toggle=\"modal\" data-target=\"#myModal\"><i class=\"fa fa-bookmark\"><\/i> Save to read list<\/button><br \/>\n                                        <\/span><\/p>\n<p>                                <\/span><\/p>\n<p>                                    <span><br \/>\n                                        Published by <a href=\"https:\/\/www.globalminingreview.com\/team\/isabelle-keltie\/\" rel=\"author\">Isabelle Keltie<\/a>,<br \/>\n                                        Editorial Assistant<br \/>\n                                        <br \/><\/span><\/p>\n<p>                                <a href=\"https:\/\/www.globalminingreview.com\">Global Mining Review<\/a>,<br \/>\n                                Monday, 17 July 2023 14:00<br \/>\n                            <\/small>\n                        <\/p>\n<\/header>\n<hr \/>\n<div class=\"hz1 advertisement\">\n<p>\n<span>Advertisement<\/span>\n<\/p>\n<\/p><\/div>\n<div>\n<div class=\"lead\">\n<ul>\n<li>Rio Tinto to make an investment of AUS$40.4 million in Sovereign resulting in an initial 15% shareholding.\n<\/li>\n<li>Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project in Malawi.\n<\/li>\n<li>Rio Tinto\u2019s investment represents a significant step towards unlocking a major new supply of low-CO<sub>2<\/sub>-footprint natural rutile and flake graphite.\n<\/li>\n<li>Under the Investment Agreement, Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya including with respect to Sovereign\u2019s graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market. <\/li>\n<li>Issue of 83 095 592 new Shares of Sovereign to Rio Tinto at a price of AUS$0.486 per share represents a 10% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023.\n<\/li>\n<li>Rio Tinto also issued with 34 549 598 options to increase its shareholding by an additional 4.99% to potentially 19.99% of Sovereign within 12 months.\n<\/li>\n<li>Rio Tinto\u2019s 34.5 million options have an exercise price of AUS$0.535 per Share, representing a 21% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023, for additional proceeds of up to AUS $18.5 million (if all options are exercised).\n<\/li>\n<\/ul>\n<\/div>\n<p>Sovereign\u2019s Chairman Ben Stoikovich commented: \u201cThis landmark agreement with Rio Tinto, one of the world\u2019s largest and most accomplished global mining companies, is confirmation of Kasiya\u2019s place as one of the most significant critical mineral discoveries in recent times. The experience and expertise that Rio Tinto brings will truly set Kasiya apart as a potentially globally significant supply of two critical minerals and take us all a step closer to supply chain decarbonisation and achieving net-zero. Furthermore, this is yet another step towards unlocking significant benefits from development of the Kasiya project for Malawi. We welcome Rio Tinto as a major shareholder of Sovereign and look forward to working with Rio Tinto as our strategic partner in the development of Kasiya.\u201d\n<\/p>\n<p class=\"visible-print\"><small>Read the article online at: https:\/\/www.globalminingreview.com\/finance-business\/17072023\/rio-tinto-to-invest-aus404-million-and-become-a-15-strategic-investor-in-sovereign\/<\/small><\/p>\n<\/p><\/div>\n<div class=\"row\">\n<h2>You might also like<\/h2>\n<article class=\"article article-list\">\n<div class=\"col-xs-3\">\n<p>\n                                            <a href=\"https:\/\/www.globalminingreview.com\/mining\/17072023\/volt-lithium-to-collaborate-with-nanotechnology-labs\/\"><\/p>\n<p>                                            <\/a>\n                                        <\/p>\n<\/p><\/div>\n<div class=\"col-xs-9\">\n<header>\n<p>                                            <small><\/p>\n<p>                                                Monday 17 July 2023 15:00<br \/>\n                                            <\/small><br \/>\n                                        <\/header>\n<p>Volt Lithium Corp. announces strategic collaborations with nanotechnology labs to accelerate North American lithium production and environmentally conscious water management.\n<\/p>\n<\/p><\/div>\n<\/article><\/div>\n<div class=\"tab-content tab-article-base hidden-print\">\n<div class=\"tab-pane active\" id=\"embed\">\n<p><strong>Embed article link:<\/strong> (copy the HTML code below):<\/p>\n<p>                                <textarea class=\"form-control\" rows=\"3\" cols=\"50\">&lt;a href=&#8221;https:\/\/www.globalminingreview.com\/finance-business\/17072023\/rio-tinto-to-invest-aus404-million-and-become-a-15-strategic-investor-in-sovereign\/&#8221; title=&#8221;Rio Tinto to invest AUS$40.4 million and become a 15% strategic investor in Sovereign&#8221;&gt;Rio Tinto to invest AUS$40.4 million and become a 15% strategic investor in Sovereign&lt;\/a&gt;<\/textarea><\/p>\n<hr \/><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Save to read list Published by Isabelle Keltie, Editorial Assistant Global Mining Review, Monday, 17<\/p>\n","protected":false},"author":1,"featured_media":48136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/posts\/48134"}],"collection":[{"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/comments?post=48134"}],"version-history":[{"count":2,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/posts\/48134\/revisions"}],"predecessor-version":[{"id":48137,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/posts\/48134\/revisions\/48137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/media\/48136"}],"wp:attachment":[{"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/media?parent=48134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/categories?post=48134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peymantaeidi.net\/stem-cell\/wp-json\/wp\/v2\/tags?post=48134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}