Fortuna Metals Secures Exemption from Malawi’s Raw Mineral Export Ban

Regulatory Clarity for Fortuna Metals

Fortuna Metals Limited (ASX – FUN) has received official confirmation from Malawi’s Ministry of Energy and Mining that the country’s 2025 raw mineral export ban does not apply to its operations, provided the company undertakes beneficiation and upgrading of rutile and graphite mined in Malawi. This exemption removes a significant regulatory hurdle, allowing Fortuna to export premium-grade mineral products rather than raw ores.

The letter from Malawi’s Department of Mining clarifies that Fortuna’s approach must include in-country processing to produce value-added products. This aligns with the government’s broader strategy to encourage local beneficiation, boosting economic benefits and industrial development within Malawi.

Following a Proven Processing Blueprint

Fortuna plans to adopt a mineral processing flow sheet similar to that of Sovereign Metals at their Kasiya deposit, located just 20 kilometres north of Fortuna’s Mkanda project. Sovereign’s model involves extracting, beneficiating, and upgrading rutile to a premium quality product with approximately 95% titanium dioxide content, suitable as feedstock for titanium sponge production used in aerospace and defence industries.

Similarly, Fortuna aims to process run-of-mine graphite into high-quality flake graphite products with around 96% carbon content. These products target major industrial end markets, including lithium-ion battery manufacturers and refractory material producers, sectors that demand high purity and consistent quality.

Malawi’s Emerging Mining Landscape

The announcement also highlights Malawi’s rapidly developing mining sector, with several companies advancing significant projects. Lotus Resources is ramping up production at the Kayelekera Uranium Mine, while Lindian Resources and Globe Metals and Mining have commenced construction on rare earth and niobium projects respectively. Sovereign Metals’ collaboration with the International Finance Corporation (IFC), part of the World Bank Group, underscores the increasing international support for sustainable mining development in Malawi.

The World Bank Group’s involvement extends beyond mining, financing critical infrastructure projects such as the Mpatamanga Hydropower Project and the Nacala rail corridor, which are vital for Malawi’s economic growth and the mining sector’s logistics.

Looking Ahead for Fortuna Metals

While the exemption from the export ban is a positive development, Fortuna’s ability to capitalise on this depends on successfully delineating rutile and graphite mineral resources and advancing to mining operations. The company’s strategy to produce premium mineral products locally aligns with Malawi’s industrial ambitions and global market demands, potentially positioning Fortuna as a key player in the region’s mineral processing landscape.