Mr. William Dawes of Mkango Resources reports
MKANGO RESOURCES LIMITED ANNOUNCES HYPROMAG SHOWCASES RECYCLING PROJECTS
Mkango Resources Ltd. and Cotec Holdings Corp.'s HyProMag Ltd. has presented its rare earth magnet recycling and manufacturing projects during yesterday's Minerals Security Partnership (MSP) meeting in Brussels.
A statement was released by the governments of the Republic of Korea (ROK), Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, Sweden, the United Kingdom, the United States of America and the European Commission following conclusion of the meeting.
HyProMag is commercializing the patented hydrogen processing of magnet scrap (HPMS) technology in the United Kingdom (2025), Germany (2025) and United States (2027) and evaluating other jurisdictions, including a collaboration with Envipro in Japan.
The HPMS technology was developed at the University of Birmingham Magnetic Materials Group and is exclusively licensed to HyProMag. The technology is underpinned by approximately $100-million (U.S.) of research and development financing and has major competitive advantages versus other rare earth magnet recycling technologies, which are largely focused on chemical processes but do not solve the challenges of liberating magnets from end-of-life scrap streams; HPMS provides this solution.
HyProMag was one of the first projects to be selected by the MSP for support given its strong potential to contribute toward the development of responsible critical mineral supply chains.
About Mkango Resources Ltd.
Mkango is listed on the AIM (Alternative Investment Market) and the TSX Venture Exchange. Mkango's corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Ltd., which is owned 79.4 per cent by Mkango and 20.6 per cent by Cotec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.
Maginito holds a 100-per-cent interest in HyProMag and a 90-per-cent direct and indirect interest (assuming conversion of Maginito's convertible loan) in HyProMag GmbH, focused on short-loop rare earth magnet recycling in the United Kingdom and Germany, respectively, and a 100-per-cent interest in Mkango Rare Earths United Kingdom Ltd. (Mkango U.K.), focused on long-loop rare earth magnet recycling in the United Kingdom through a chemical route.
Maginito and Cotec are also rolling out HyProMag's recycling technology into the United States through the 50/50-owned HyProMag USA joint venture company. HyProMag is also evaluating other jurisdictions and recently launched a collaboration with Envipro on rare earth magnet recycling in Japan.
Mkango also owns the advanced-stage Songwe Hill rare earth project and an extensive rare earth, uranium, tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi as well as the Pulawy rare earth separation project in Poland.
About Cotec Holdings Corp.
Cotec is a publicly traded investment issuer listed on the TSX-V and the OTCQB and trades under the symbol CTH and CTHCF, respectively. Cotec is an ESG-focused (environment, social and governance) company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities as it transitions into a mid-tier mineral resource producer.
Cotec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. It has made four investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.
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