Sovereign Metals Appoints Frank Eagar as Managing Director and CEO

Sovereign Metals Ltd has recently appointed Frank Eagar as its new Managing Director and Chief Executive Officer, with his role commencing on October 20, 2023.

This appointment, in addition to key technical engagements, coincides with the company’s transition from the pre-feasibility study (PFS) phase to the next stage, which involves project optimization, community and stakeholder engagement, and ultimately, the completion of a definitive feasibility study (DFS) for their Kasiya Rutile-Graphite Project in Malawi.

Frank Eagar is a seasoned mining professional with over two decades of experience in financing, permitting, developing, and operating mining projects, especially in southern Africa.

As a chartered accountant, Eagar has gathered extensive corporate, commercial, and technical knowledge in the mining sector. He has previously served as the Chief Financial Officer for African private equity firm AMED Fund’s Central Copper Resources PLC and as the Chief Executive of Baobab Steel Ltd, another entity controlled by AMED. Notably, he successfully completed a DFS and established a joint venture with the World Bank’s IFC to secure strategic investors and project financing for Baobab’s $1 billion fully-permitted integrated steel and vanadium project in Mozambique.

Since joining Sovereign in December of the previous year as General Manager in Malawi, Eagar has expanded the team, fostered strong relationships with the government, and demonstrated a deep understanding of the Kasiya project’s development.

Starting on October 20, the current Managing Director, Dr. Julian Stephens, will transition into a non-executive director role while continuing as a consultant. He will provide support and guidance to the incoming technical and management team. Stephens has played a crucial role in Sovereign’s expansion, particularly in the discovery of rutile mineralization in Malawi and the identification of the world-class Kasiya deposit.

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