CRITICAL MINERALS
Fortuna Metals targets rutile and graphite production by 2029 By Nelendhre Moodley
ASX-listed Fortuna Metals is fast-tracking progress on its Mkanda rutile and graphite project in Malawi, with the company pushing for production within a three-year window, which is far more aggressive than traditional timelines, Fortuna Metals CEO, Tom Langley, tells Modern Mining in an exclusive interview.
The outlook for titanium metal is estimated to increase significantly from US$30B in 2025 to US$54B by 2034 – CAGR 6.5%.
R ecent developments on the project, which was acquired in September last year, include the maiden resource of 298 mt at 0.87% rutile and 1.19% graphite (TGC), production of
“Having a major US-focused cornerstone investor is strategically important for us.
This investment validates our strategy in Malawi and provides us with significant runway for continued development of the company’s Mkanda and
a high-quality Rutile product of +96% TiO2 from the bulk sample, completion of infill resource drilling and commencement of a 5 000 m ~ 20 m deep air-core drilling to test the deeper rutile mineralisation potential, of which the results are expected by year- end. Fortuna Metals is working towards first production by 2029. As a testament to the attractiveness of the asset, the
With our maiden resource estimate in hand, we have a much stronger platform from which to engage potential strategic partners, offtake customers, and funding groups. That milestone will allow us to pursue the right financing and development opportunities from a position of strength.
Kampini rutile, graphite and rare earth projects. We are particularly encouraged that investors of the calibre of WNDR have recognised the significance of these projects and their potential value to the broader US market,” says Langley. Beyond providing capital, WNDR
brings significant strategic value through their network and ability to help position the project with downstream titanium industries. “That includes potential connections across
emerging miner recently inked a strategic investment and partnership deal with WNDR, a USA based investment firm. WNDR is a Silicon Valley–based, technology-
sectors such as aerospace, where companies like Boeing are significant titanium consumers, as well as defence applications, where titanium plays a critical role. WNDR also provides exposure to emerging technologies, including humanoid robotics. For example, they were early investors in AI company Cursor, which recently sold for US$60bn to Space X. Our immediate priority is to unlock the project’s value by demonstrating the scale and quality of the resource. With our maiden resource estimate in hand, we have a much stronger
focused investment firm with over US$3 billion in assets under management. The firm has a growing interest in the critical minerals – including titanium – that underpin the next generation of AI, robotics, defence, and advanced technology applications. The investment by WNDR comprises A$8.6 million for 19% of the company. Beyond American financial muscle, WNDR, offers exposure within the US titanium, graphite and rare earth manufacturers and supply chain.
16 MODERN MINING www.modernminingmagazine.co.za | SEPTEMBER 2026
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