Humanoids and robotics are potentially the most exciting new long-term growth option for titanium.
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.” Mkanda rutile and graphite project Although Fortuna Metals also has assets in Australia, its focus remains largely on advancing its flagship Mkanda project, having already allocated more than 90% of funds to its development. Located in Malawi’s Lilongwe District, about 30 km west of the capital, the Mkanda project covers a highly prospective 658 km² corridor. Importantly, the site is positioned directly along the same geological trend immediately south of Sovereign Metals tier-one Kasiya project, which is considered the world’s largest known natural rutile and second-largest flake graphite deposit. Kasiya is earmarked to process 12 mtpa of ore in Stage 1, eventually expanding to 24 mtpa.
Kasiya Project toward commercial production in 2030 after
completing development, permitting and a three-year construction phase, Fortuna Metals is pursuing a staged development strategy. It plans to
“We believe our project represents the southern continuation of the Kasiya Rutile-Graphite Project mineral system. It shares the same geology and the same mineralised host sequence
begin with small-scale production in 2029 before ramping up to full-scale operations. “We believe optimising the project’s initial scale will provide
with our northern tenement boundary directly adjoining the Kasiya tenure.
The mineralisation extends uninterrupted to the railway
a significant competitive advantage. Rather than pursuing a large, capital-
corridor, roughly 11 kilometres from our northern boundary. Given the continuity of the geological setting
The multi-commodity Mkanda project has the potential to be among the top five rutile projects in the world.
intensive development from the outset, our strategy is to build a right-sized operation that is easier to finance, simpler to execute and capable of generating strong cash flow. By keeping upfront capital requirements low, we reduce financing risk and improve the prospects for timely project delivery. Moreover, by establishing a profitable operation first and expanding capacity over time, we
and the results we have seen so far, we see strong potential that our project forms part of the same regional mineralised system, which is highly encouraging from an exploration and development perspective,” explains Langley. So, can Fortuna Metals be the first rutile production in Malawi? With a market capitalisation of $35–40 million and $12.8 million in cash, Langley says the company is
can minimise execution risk while creating a clear pathway for long-term growth. Successful project development is about more
well funded to advance its flagship asset up the value chain. Unlike Sovereign Metals, which is advancing its large-scale
SEPTEMBER 2026 | www.modernminingmagazine.co.za MODERN MINING 17
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