July 17 (Reuters) - Australia's Sovereign Metals (SVM) said on Monday global miner Rio Tinto (RIO) RIO.L would invest A$40.4 million ($27.61 million) in exchange for an initial 15% stake in the company.
Sovereign will use the funds from the investment to advance its Kasiya Rutile-Graphite Project in Malawi.
($1 = 1.4635 Australian dollars)
News: RIO Rio Tinto to take 15% stake in Australia's Sovereign Metals
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