Fortuna Metals Produces High-Purity Rutile at Mkanda Project in Malawi

Fortuna Metals (ASX: FUN) has produced a high-quality rutile product grading 96.66% titanium dioxide (TiO2) from initial bulk metallurgical test work at its Mkanda rutile and graphite project in Malawi.

The result came from a 5.4-tonne bulk sample processed by Mineral Technologies in Johannesburg using multi-stage gravity, magnetic, and electrostatic separation.

Fortuna reported a rutile product containing 96.66% TiO2, 0.37% silicon dioxide, 0.94% iron oxide, and 0.18% zirconium oxide plus hafnium oxide.

The company compared the result with selected product specifications from Sovereign Metals’ (ASX: SVM) Kasiya project, Sierra Rutile, and Base Resources’ former Kwale operation, with Mkanda’s TiO2 grade sitting above all three, while sulphur and uranium plus thorium analyses remain pending.

Resource Work Advances

Fortuna has completed its first major 2026 infill hand auger program at Mkanda, comprising 648 drill holes for 4,637 metres at an average depth of 8.2m, and has now completed 1,323 hand auger holes for 10,037m across Mkanda at an average depth of 8m.

The 2025 first-pass reconnaissance program used 400m by 400m spacing and is expected to inform a maiden Inferred mineral resource estimate (MRE) this month.

Fortuna’s 2026 work is focused on 200m by 200m drilling to build resource potential and improve confidence, with a 5,000m aircore program continuing through July, August and September.

The company expects final metallurgical results—including X-ray diffraction and QEMSCAN mineralogy—to be completed this month, while graphite flotation test work remains scheduled for the September quarter.

Multi-Commodity Strategy

Fortuna is assessing rare earths and graphite in parallel with rutile as part of its broader multi-commodity strategy, and regards Kasiya’s graphite and strategic heavy rare earth characteristics as a regional analogue for potential value additions at Mkanda.

The Mkanda and Kampini projects cover 658 square kilometres in Malawi, about 20 kilometres south of Kasiya, with Fortuna’s tenure covering much of the 70km strike extent of the same Lilongwe Plain weathered gneiss that hosts rutile and graphite at Kasiya.

Fortuna has generated clean rutile, monazite, zircon, and ilmenite samples for further characterisation and classification into product samples for potential offtakers.

It has commissioned an in-country laboratory in Malawi for the initial sample preparation steps before heavy mineral separation, which is expected to reduce assay costs and accelerate turnaround times to support drilling decisions through 2026 and beyond.

‘Outstanding Initial Outcome’

Chief executive officer Tom Langley described the initial metallurgical result as an important technical milestone for Mkanda.

“The high-quality rutile produced from our bulk sample test work in Johannesburg is an outstanding initial outcome for the company [that] proves the high quality of the rutile and low impurities at Mkanda,” he said.

“Fortuna will now begin engaging with potential customers to verify the suitability of Mkanda’s Rrutile for key downstream applications.”

“We look forward to a busy 2026 with major catalysts in the near future set to reposition Fortuna as not just a discovery story but a key global supplier of titanium, graphite, and potentially monazite.”