MKANGO SIGNS MINING DEVELOPMENT AGREEMENT WITH MALAWI GOVERNMENT FOR THE SONGWE HILL RARE EARTH PROJECT
Highlights
Lancaster Exploration, a 100% owned subsidiary of Mkango Resources Limited, and the Malawi Government have signed a Mining Development Agreement ("MDA") for the Songwe Hill Rare Earths Project in Malawi
The signing of the Songwe MDA confirms the fiscal terms applicable to the project and enhances the options to create value for shareholders in the context of the ongoing strategic review and engagement with potential strategic investors, development and commercial banks, and offtakers.
LONDON, UK AND VANCOUVER, BC / ACCESSWIRE / July 29, 2024 / Mkango Resources Ltd. (AIM:MKA)(TSX-V:MKA) (the "Company" or "Mkango") is pleased to announce that Lancaster Exploration Limited, a British Virgin Islands company and Lancaster Exploration Limited, a Malawi company, both 100% owned subsidiaries of Mkango, and the Malawi Government have signed the Mining Development Agreement ("MDA") for the Songwe Hill Rare Earths Project ("Songwe Hill" or the "Project") in Malawi. The signing ceremony was held at the Office of the President and Cabinet in Lilongwe, Malawi during the evening of Friday 26 th July 2024.
Hon. Minister Monica Chang'anamuno MP, Minister of Mining for Malawi stated: "The signing of the MDA marks a momentous and significant occasion in the history of Malawi's mining sector. It is with great pride and optimism that we sign the MDA between the Government of Malawi and Lancaster Exploration Limited (Mkango) paving the way to start mining Rare Earths at Songwe Hill in Phalombe.
The MDA signed by the Government of Malawi is a product of almost two years of hard work. I would like to thank the team at Mkango for their positive partnership spirit during the negotiation period. This Agreement is not just a contractual obligation; it symbolizes a renewed partnership, a commitment to sustainable development, and a shared vision for a prosperous future for both parties. The journey to this has been marked by diligent negotiations, mutual respect, and a deep understanding of the potential that lies beneath our feet.
The conclusion and signing of this MDA is a testament to what can be achieved when we work together with a common purpose. It will ensure that the benefits of our mineral wealth are shared equitably and that our environmental and social responsibilities are upheld. The MDA we have signed today is a win-win agreement and is based on the belief that Government, the mining investor and Malawians share some fundamental interests of benefitting from these future mining activities. On behalf of the Malawi Government I would like to take this opportunity to assure the investors that the Government will adhere to its obligations reflected in this MDA.
I would like to reiterate Government's commitment in ensuring that it provides requisite infrastructure to support the mining activities at Songwe Hill and the country in general. The future mining operations at Songwe Hill in Phalombe will have far-reaching impacts on our economy. As we are all aware mining represents the hopes and dreams of the Malawian people for economic growth, wealth and job creation in line with Vision 2063 and the Agriculture, Tourism and Mining (ATM) Strategy championed by His Excellency the President Dr Lazarus McCarthy Chakwera.
To the management team at Lancaster Exploration Limited (Mkango) I would like to thank you for your unwavering commitment to Malawi. Together, we are not just signing an agreement; we are embarking on a journey towards a brighter, more prosperous future for Malawi. Let this be a shining example of what can be achieved through partnership, perseverance, and a shared vision for a better tomorrow."
Alexander Lemon, President of Mkango stated: "We are very pleased to announce this major milestone for the Company and the nation of Malawi. I am delighted that the MDA has been agreed and signed with the Government of Malawi. The Project when developed, is expected to be a game changer and transformational for Malawi and Mkango welcomes the very strong support it is receiving from the Government of Malawi and all stakeholders. When developed, my hope is that Songwe Hill will catalyse a new industrial revolution in Malawi, creating employment opportunities, producing high value-added exports, as well as further unlocking Malawi's mineral potential and new infrastructure developments."
Songwe is one of the very few rare earths projects globally to have completed a definitive feasibility study and hold a signed and approved Environmental, Social, Health Impact Assessment ("ESHIA"), which was completed in compliance with IFC Performance Standards and The Global Industry Standard for Tailings Management (2020) ("GISTM") adopted for design and management of the tailings storage facility.
The key rare earths being targeted at Songwe are neodymium, praseodymium, dysprosium and terbium which are all critical for the green transition and are essential to permanent magnets for electric vehicles, wind turbines and many electronic devices.
Key components of the MDA include:
5% royalty of gross revenue
30% corporate tax rate
10% non-diluting equity Interest in the Project to Malawi Government
Exemption from customs and excise duties - Lancaster will be exempted from Export Duty, Import Duty, Import Excise and Import VAT on imports and exports of capital goods as provided in the applicable law
10 years stability period
10 years Tax loss carry forward
Community Development Expenditure is an allowable tax deduction
About Mkango
Mkango is listed on the 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 Holdings Limited ("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 Limited ("HyProMag") and a 90 per cent direct and indirect interest (assuming conversion of a 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. 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 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.
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 the various recycling plants in the UK, Germany, governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is researching and developing, , 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, 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 plants of 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 Maginito's activities and technical, permitting, environmental, financing and other risks associated with the development of Songwe Hill. 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 Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
Canada: +1 403 444 5979
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
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 rns@lseg.com or visit .
SOURCE: Mkango Resources Ltd.
MKANGO与马拉维政府签署了松威山稀土项目的矿业开发协议
亮点
英国伦敦和不列颠哥伦比亚省温哥华/ACCESSWIRE/2024年7月29日/ Mkango Resources Ltd.(AIM: MKA)(TSX-V: MKA)(“公司” 或 “Mkango”)欣然宣布,英属维尔京群岛公司兰开斯特勘探有限公司和马拉维公司兰开斯特勘探有限公司(均为Mkango的100%控股子公司)与马拉维政府签署了矿业开发协议(“MDA”))用于马拉维的松威山稀土项目(“Songwe Hill” 或 “项目”)。签字仪式于2024年7月26日星期五晚间在马拉维利隆圭的总统和内阁办公室举行。
马拉维矿业部长莫妮卡·尚加纳穆诺国会议员阁下表示:“MDA的签署标志着马拉维采矿业历史上的一个重要而重要的时刻。我们非常自豪和乐观地签署了马拉维政府与兰开斯特勘探有限公司(Mkango)之间的MDA,为开始在帕隆贝松威山开采稀土铺平了道路。
马拉维政府签署的MDA是将近两年的辛勤工作的产物。我要感谢Mkango团队在谈判期间表现出的积极合作精神。本协议不仅仅是一项合同义务;它象征着新的伙伴关系、对可持续发展的承诺以及对双方繁荣未来的共同愿景。艰苦的谈判、相互尊重以及对我们脚下潜力的深刻理解是通往这一目标的旅程。
这份 MDA 的缔结和签署证明了当我们怀着共同的目标共同努力时所能取得的成就。它将确保公平分享我们矿产财富的好处,并维护我们的环境和社会责任。我们今天签署的MDA是一项双赢的协议,其基础是政府、矿业投资者和马拉维人从这些未来的采矿活动中受益有一些共同的根本利益。我谨代表马拉维政府借此机会向投资者保证,政府将遵守本MDA中反映的义务。
我想重申,政府承诺确保提供必要的基础设施,以支持松威山和整个国家的采矿活动。帕隆贝松威山未来的采矿业务将对我们的经济产生深远影响。众所周知,采矿业代表了马拉维人民对经济增长、财富和创造就业机会的希望和梦想,这符合总统拉扎鲁斯·麦卡锡·查克韦拉博士阁下倡导的《2063年愿景》和《农业、旅游和矿业(ATM)战略》。
对于兰开斯特勘探有限公司(Mkango)的管理团队,我要感谢你们对马拉维的坚定承诺。我们共同签署的不仅仅是协议;我们正在踏上通往马拉维更光明、更繁荣未来的旅程。让这成为一个光辉的例子,说明通过伙伴关系、毅力和对更美好明天的共同愿景可以取得什么成就。”
Mkango总裁亚历山大·莱蒙表示:“我们很高兴地宣布公司和马拉维国家的这一重要里程碑。我很高兴与马拉维政府商定并签署了MDA。该项目一旦制定,预计将改变马拉维的游戏规则和变革,Mkango欢迎马拉维政府和所有利益相关者给予的强有力支持。我希望,Songwe Hill开发完成后,将催化马拉维的新工业革命,创造就业机会,生产高附加值的出口产品,并进一步释放马拉维的矿产潜力和新的基础设施发展。”
松威是全球为数不多的完成最终可行性研究并进行签署和批准的环境、社会、健康影响评估(“ESHIA”)的稀土项目之一,该评估是根据国际金融公司绩效标准和尾矿储存设施设计和管理所采用的《全球尾矿管理行业标准(2020年)(“GISTM”)完成的。
松威瞄准的关键稀土是钕、、镝和钽,它们对绿色转型至关重要,是电动汽车、风力涡轮机和许多电子设备的永磁体所必需的。
MDA 的关键组成部分包括:
关于 Mkango
Mkango在AiM和TSX-V上市。Mkango的企业战略是通过其对Maginito Limited(“Maginito”)的权益,成为再生稀土磁体、合金和氧化物生产领域的市场领导者,该公司由Mkango持有79.4%的股权,由CoTec Holdings Limited(“CoTec”)持有20.6%的股权,并开发新的可持续的钕气、钕和萜来源满足电动汽车、风力涡轮机和其他清洁能源技术不断增长的需求。
Maginito持有HyproMag Limited(“HyproMag”)的100%权益和HyproMag GmbH的90%的直接和间接权益(假设转换了可转换贷款),分别专注于英国和德国的短环稀土磁体回收利用,并持有专注于英国长回路稀土磁体回收的英国Mkango Rare Earths Ltd(“Mkango UK”)的100%权益(假设转换了可转换贷款)通过化学途径。
Maginito和CoTec还通过拥有50/50股权的HyproMag USA LLC合资公司向美国推出HyproMag的回收技术。HyproMag也在评估其他司法管辖区,最近与Envipro在日本启动了稀土磁体回收方面的合作。
Mkango还拥有处于后期阶段的Songwe Hill稀土项目和马拉维的大量稀土、铀、钽、铌、金红石、镍和钴的勘探组合,以及波兰的Pulawy稀土分离项目。
欲了解更多信息,请访问
《市场滥用条例》(MAR)披露
根据市场滥用条例(欧盟)第 596/2014 号(“MAR”)的规定,本公告中包含的信息被公司视为内幕消息,该条例已通过《2018年欧盟(退出)法》纳入英国法律。通过监管信息服务发布本公告后,该内幕消息现已被视为公共领域。
关于前瞻性陈述的警示说明
本新闻稿包含有关Mkango的前瞻性陈述(根据适用的证券法,该术语的含义范围内)。通常,前瞻性陈述可以通过使用 “目标”、“计划”、“预期” 或 “预期”、“预期”、“估计”、“打算”、“预期”、“相信” 等词语来识别,或者某些行动、事件或结果 “可能”、“可能”、“会”、“应该”、“可能” 或 “可能” 的陈述将”、发生或将要实现,或其负面含义。提醒读者不要过分依赖前瞻性陈述,因为无法保证这些陈述所依据的计划、意图或预期会发生。就其性质而言,前瞻性陈述涉及许多假设,包括已知和未知的风险和不确定性,包括一般和具体的,这些假设增加了预测、预测、预测和其他前瞻性陈述不发生的可能性,这可能导致未来时期的实际表现和结果与此类前瞻性陈述所表达或暗示的对未来业绩或结果的任何估计或预测存在重大差异。这些因素和风险包括在不限制上述内容的前提下,在英国、德国开发各种回收厂的融资的可得性(或延迟获得)、政府行动和其他市场对Mkango正在研究和开发的金属及相关下游产品的全球需求和定价的影响、将HPMS和化学品回收技术扩展到商业规模的能力、在回收和分离业务中具有更大财务能力和有效的竞争技术的竞争对手Maginito、用于回收活动的废料供应情况、与回收和马吉尼托各种回收厂的开发有关的政府监管(包括环境和其他法规的影响)和经济学以及根据Maginito和CoTec之间的合作协议在美国的未来投资、可行性研究完成的结果和时间、成本超支、工厂建设和运营的复杂性以及可行性的积极结果对各种各样的研究Maginito活动的拟议方面以及与松威山开发相关的技术、许可、环境、融资和其他风险。本新闻稿中包含的前瞻性陈述自本新闻发布之日起作出。除非法律要求,否则公司不打算更新或修改任何前瞻性陈述,也没有义务更新或修改任何前瞻性陈述,无论是由于新信息、未来事件还是其他原因,除非适用法律要求。此外,公司没有义务评论第三方对上述事项的期望或陈述。
有关 Mkango 的更多信息,请联系:
Mkango 资源有限公司
威廉·道斯亚历山大·莱蒙
首席执行官总裁
will@mkango.ca alex@mkango.ca
加拿大:+1 403 444 5979
@MkangoResources
SP Angel 企业融资有限责任公司
提名顾问和联合经纪人
杰夫·基廷、卡罗琳·罗
英国:+44 20 3470 0470
替代资源资本
联合经纪人
亚历克斯·伍德、基思·道辛
英国:+44 20 7186 9004/5
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来源:Mkango Resources Ltd.