Latest news with #rareearth
Associated Press
3 days ago
- Business
- Associated Press
Mkango Resources Limited Releases Q1 2025 Results
LONDON, UK and VANCOUVER, BC / ACCESS Newswire / May 30, 2025 / Mkango Resources Ltd (AIM:MKA)(TSX-V:MKA) (the 'Company' or 'Mkango'), is pleased to announce that it has released the Financial Statements and Management's Discussion and Analysis for the 3-month period ending 31 March 2025. The reports are available under the Company's profile on SEDARplus ( ) and on the Company's website ( ). To view the Financial Statements, please click here: To view the Management Discussion and Analysis, please click here: About Mkango Resources Ltd. Mkango is listed on AIM and the TSX-V. 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 Limited ('Maginito'), 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 UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd ('Mkango UK'), focused on long loop rare earth magnet recycling in the UK via a chemical route. Maginito and CoTec are also rolling out HyProMag's recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company. Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi, and the Pulawy rare earths separation project in Poland. Songwe Hill is one of the few rare earths projects to have progressed to the Definitive Feasibility Stage, with an expected life of mine of 18 years, producing a 55% mixed rare earth carbonate, yielding 1,953 tons per annum of NdPr and 56 tons per annum of DyTb. Mkango's proposed Pulawy separation facility site, located in a Special Economic Zone in Poland, stands adjacent to the EU's second largest manufacturer of nitrogen fertilisers, and features established infrastructure, access to reagents and utilities on site. Mkango has signed a letter of Intent with Crown PropTech Acquisitions to list Mkango's Songwe Hill and Pulawy Rare Earths Projects on NASDAQ via a SPAC Merger. For more information, please visit Market Abuse Regulation (MAR) Disclosure The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango. Generally, forward looking statements can be identified by the use of words such as 'targeted', 'plans', 'expects' or 'is expected to', 'scheduled', 'estimates' 'intends', 'anticipates', 'believes', or variations of such words and phrases, or statements that certain actions, events or results 'can', 'may', 'could', 'would', 'should', 'might' or 'will', occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, the availability of (or delays in obtaining) financing to develop Songwe Hill, and the various recycling plants in the UK, Germany and the US as well as the separation plant in Poland, governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, geological, technical and regulatory matters relating to the development of Songwe Hill, the ability to scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater financial capability and effective competing technologies in the recycling and separation business of Maginito and Mkango, availability of scrap supplies for recycling activities, government regulation (including the impact of environmental and other regulations) on and the economics in relation to recycling and the development of the various recycling and separation plants of Mkango and Maginito and future investments in the United States pursuant to the cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the plants, and the positive results of feasibility studies on the various proposed aspects of Mkango's and Maginito's activities. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. For further information on Mkango, please contact: Mkango Resources Limited William Dawes Chief Executive Officer [email protected] Canada: +1 403 444 5979 @MkangoResources Alexander Lemon President [email protected] SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker Jeff Keating, Jen Clarke, Devik Mehta UK: +44 20 3470 0470 Alternative Resource Capital Joint Broker Alex Wood, Keith Dowsing UK: +44 20 7186 9004/5 The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit SOURCE: Mkango Resources Ltd. press release
Malay Mail
3 days ago
- Automotive
- Malay Mail
China defends export controls on rare earths but signals flexibility as supply crunch hits automakers, chipmakers
BEIJING, May 30 — China said it would cooperate further with other countries over its rare earth export controls as shortages put auto and semiconductor makers in Europe and India at risk of closure. China, which controls over 90 per cent of global processing capacity for the rare earth magnets used in everything from automobiles and fighter jets to home appliances, imposed restrictions in early April requiring exporters to obtain licences from Beijing. While a handful of licences have been granted, including to some Volkswagen suppliers, Indian automakers say they have received none and will have to stop production in early June. 'We stand ready to strengthen dialogue and cooperation in the field of export control with relevant countries and regions and stay committed to maintaining the stability of global production and supply chains,' foreign ministry spokesperson Lin Jian said on Friday when asked about the controls. Chinese state media reported on Wednesday that the country could relax its curbs on rare earths exports for Chinese and European semiconductor firms after meetings between industry and the Ministry of Commerce where the issue of shortages was raised. The New York Times reported earlier this week that the United States suspended some sales of critical technologies to China, including parts for state-owned plane maker COMAC, in response to China's restriction on exports of critical minerals. — Reuters
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
China signals softer stance on rare earth export curbs
China, which controls 90% of global processing capacity for rare earth magnets, has imposed restrictions requiring exporters to obtain licences from Beijing. (EPA Images pic) BEIJING : China said it would cooperate further with other countries over its rare earth export controls as shortages put auto and semiconductor makers in Europe and India at risk of closure. China, which controls over 90% of global processing capacity for the rare earth magnets used in everything from automobiles and fighter jets to home appliances, imposed restrictions in early April requiring exporters to obtain licences from Beijing. While a handful of licences have been granted, including to some Volkswagen suppliers, Indian automakers say they have received none and will have to stop production in early June. 'We stand ready to strengthen dialogue and cooperation in the field of export control with relevant countries and regions and stay committed to maintaining the stability of global production and supply chains,' foreign ministry spokesman Lin Jian said today when asked about the controls. Chinese state media reported on Wednesday that the country could relax its curbs on rare earths exports for Chinese and European semiconductor firms after meetings between industry and the commerce ministry where the issue of shortages was raised. The New York Times reported earlier this week that the US suspended some sales of critical technologies to China, including parts for state-owned plane maker COMAC, in response to China's restriction on exports of critical minerals.
BBC News
5 days ago
- Business
- BBC News
Business Daily Can Europe build a mineral supply chain?
China's headstart in market dominance is significant, and its grip on critical mineral supply chains remains tight. The question now is whether other governments can move fast enough — and smart enough — to build something more secure, more sustainable, and less dependent. We head to La Rochelle in western France for a rare look inside one of the world's biggest rare earth processing plants, and find out what it reveals about Europe's efforts to build a supply chain of its own. Presenter: Jonathan Josephs Producer: Matt Lines (Image: A rare earth processing plant in La Rochelle, France, owned by chemicals giant Solvay)
The Verge
5 days ago
- Business
- The Verge
Posted May 28, 2025 at 8:09 AM EDT 1 Comment / 1 New
D Trump's tariffs trigger rare earth ripple effect. After the US escalated global trade tariffs, China responded in kind. Most of the tit-for-tat has been paused since, but not the tight controls China issued on rare earth minerals and magnets, used in everything from smartphones to EVs. Those don't just apply to the US though, and now the EU has warned that some European manufacturers are going to run out of materials in days, which will come at a 'very significant cost.' China rare-earth controls could starve EU factories in days, chamber warns [
