Rare earths & specialist minerals
Mkango Resources starts drilling programme at Songwe Hill rare earths project in Malawi
Rare earths are used in rechargeable batteries for electric and hybrid cars
Company
CVE:MKA
Mkango Resources Ltd is moving towards production at its rare earth recycling venture in the UK, Germany and the USA. The company’s HyProMag venture uses Hydrogen Processing of Magnet Scrap (HPMS) to recycle rare earths. HyProMag’s technology has been selected by the transnational association Minerals Security Partnership (MSP) for support as one of its key projects. The rare earth magnet recycling technology was selected by MSP due to its strong potential to contribute towards the development of responsible critical mineral supply chains.
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Rare earths & specialist minerals
Rare earths are used in rechargeable batteries for electric and hybrid cars
Rare earths & specialist minerals
The company has received approval to issue around 23mln new shares at 24p each, raising £5.52mln
Rare earths & specialist minerals
"This transaction brings material benefits to both Mkango and Talaxis and strengthens Mkango's position as a future integrated supplier of rare earths,” said Mkango chair Derek Linfield
Rare earths & specialist minerals
"Rare earths are a vital component of magnets required in many technologies needed for the green energy transition"
Rare earths & specialist minerals
Recent metallurgical work has significantly improved recovery rates
Rare earths & specialist minerals
The flotation concentrate will be processed in the country of origin, via an integrated hydrometallurgical plant, as opposed to being exported, meaning greater efficiencies
Rare earths & specialist minerals
Mkango has been making steady progress on Songwe Hill in recent months
Rare earths & specialist minerals
Mkango is a well-established player in rare earths and Malawi
Rare earths & specialist minerals
"Mkango joins the ranks of the very few rare earths projects that have been advanced to this stage of development,” said William Dawes.
Rare earths & specialist minerals
Talaxis's stake in Mkango will go up from 10.7% to 11.3%
Rare earths & specialist minerals
A London-based independent investment and merchant banking boutique, Bacchus Capital has been involved in building some of the world's most successful mining companies from the earliest stages
Rare earths & specialist minerals
The group said four geological teams have completed 75 auger drill holes containing 581 samples and a further 446 soil samples have been collected from a soil sampling programme
Rare earths & specialist minerals
Mkango is developing the Songwe Hill rare earths project in Malawi
Rare earths & specialist minerals
Mkango remains focussed on the development of the Songwe Hills rare earths project in Malawi
Rare earths & specialist minerals
Mkango's main asset is the Songwe Hill rare earths project
Rare earths & specialist minerals
Mkango's main focus remains the Songwe rare earths deposit
Archive
Botswana Diamonds (LON:BOD) – Raising £300,000 for exploration Bushveld Minerals* (LON:BMN) – Vanadium rental agreement through VERL to fund 5MW flow battery Gem Diamonds (LON:GEMD) – 143 carat diamond recovered from Letšeng Hochschild Mini
Rare earths & specialist minerals
"I am impressed with the progress of the project, as well as the project's level of transparency and all of the Corporate Social Responsibility taking place," said the Minister of Mining, Rashid Gaffar
Rare earths & specialist minerals
Mkango is advancing several rare earths projects in Malawi
Rare earths & specialist minerals
The rare earth elements developer ended the period with US$7mln in cash