Kasiya ES

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International Finance Corporation (“IFC”) has entered into a collaboration agreement with Sovereign Metals Limited (“Sovereign”) and its subsidiaries, Sovereign Services Limited and McCourt Mining Limited. Under this agreement, IFC will collaborate with Sovereign to support alignment of the Kasiya Project (the “Project” as described below) and to provide guidance on the preparation of an Environmental and Social Impact Assessment (“ESIA”) aligned with the IFC Performance Standards (the “Collaboration”). The Kasiya Project is currently in the final stages of its feasibility study and has the potential to become the world’s largest producer of both rutile and natural flake graphite. Sovereign, together with its subsidiaries, is engaged in the exploration and development of mineral resource projects in Malawi.