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與馬拉維政府簽署了松威山稀土項目的礦業開發協議
亮點
英國倫敦和不列顛哥倫比亞省溫哥華/ACCESSWIRE/2024年7月29日/ Mkango Resources Ltd.(AIM: MKA)(TSX-V: MKA)(“公司” 或 “Mkango”)欣然宣佈,英屬維爾京群島公司蘭開斯特勘探有限公司和馬拉維公司蘭開斯特勘探有限公司(均爲Mkango的100%控股子公司)與馬拉維政府簽署了礦業開發協議(“MDA”))用於馬拉維的松威山稀土項目(“Songwe Hill” 或 “項目”)。簽字儀式於2024年7月26日星期五晚間在馬拉維利隆圭的總統和內閣辦公室舉行。
馬拉維礦業部長莫妮卡·尚加納穆諾國會議員閣下表示:“MDA的簽署標誌着馬拉維採礦業歷史上的一個重要而重要的時刻。我們非常自豪和樂觀地簽署了馬拉維政府與蘭開斯特勘探有限公司(Mkango)之間的MDA,爲開始在帕隆貝松威山開採稀土鋪平了道路。
馬拉維政府簽署的MDA是將近兩年的辛勤工作的產物。我要感謝Mkango團隊在談判期間表現出的積極合作精神。本協議不僅僅是一項合同義務;它象徵着新的夥伴關係、對可持續發展的承諾以及對雙方繁榮未來的共同願景。艱苦的談判、相互尊重以及對我們腳下潛力的深刻理解是通往這一目標的旅程。
這份 MDA 的締結和簽署證明了當我們懷着共同的目標共同努力時所能取得的成就。它將確保公平分享我們礦產財富的好處,並維護我們的環境和社會責任。我們今天簽署的MDA是一項雙贏的協議,其基礎是政府、礦業投資者和馬拉維人從這些未來的採礦活動中受益有一些共同的根本利益。我謹代表馬拉維政府藉此機會向投資者保證,政府將遵守本MDA中反映的義務。
我想重申,政府承諾確保提供必要的基礎設施,以支持松威山和整個國家的採礦活動。帕隆貝松威山未來的採礦業務將對我們的經濟產生深遠影響。衆所周知,採礦業代表了馬拉維人民對經濟增長、財富和創造就業機會的希望和夢想,這符合總統拉扎魯斯·麥卡錫·查克韋拉博士閣下倡導的《2063年願景》和《農業、旅遊和礦業(ATM)戰略》。
對於蘭開斯特勘探有限公司(Mkango)的管理團隊,我要感謝你們對馬拉維的堅定承諾。我們共同簽署的不僅僅是協議;我們正在踏上通往馬拉維更光明、更繁榮未來的旅程。讓這成爲一個光輝的例子,說明通過夥伴關係、毅力和對更美好明天的共同願景可以取得什麼成就。”
Mkango總裁亞歷山大·萊蒙表示:“我們很高興地宣佈公司和馬拉維國家的這一重要里程碑。我很高興與馬拉維政府商定並簽署了MDA。該項目一旦制定,預計將改變馬拉維的遊戲規則和變革,Mkango歡迎馬拉維政府和所有利益相關者給予的強有力支持。我希望,Songwe Hill開發完成後,將催化馬拉維的新工業革命,創造就業機會,生產高附加值的出口產品,並進一步釋放馬拉維的礦產潛力和新的基礎設施發展。”
松威是全球爲數不多的完成最終可行性研究並進行簽署和批准的環境、社會、健康影響評估(“ESHIA”)的稀土項目之一,該評估是根據國際金融公司績效標準和尾礦儲存設施設計和管理所採用的《全球尾礦管理行業標準(2020年)(“GISTM”)完成的。
松威瞄準的關鍵稀土是釹、、鏑和鉭,它們對綠色轉型至關重要,是電動汽車、風力渦輪機和許多電子設備的永磁體所必需的。
MDA 的關鍵組成部分包括:
關於 Mkango
Mkango在AiM和TSX-V上市。Mkango的企業戰略是通過其對Maginito Limited(“Maginito”)的權益,成爲再生稀土磁體、合金和氧化物生產領域的市場領導者,該公司由Mkango持有79.4%的股權,由CoTec Holdings Limited(“CoTec”)持有20.6%的股權,並開發新的可持續的釹氣、釹和萜來源滿足電動汽車、風力渦輪機和其他清潔能源技術不斷增長的需求。
Maginito持有HyproMag Limited(“HyproMag”)的100%權益和HyproMag GmbH的90%的直接和間接權益(假設轉換了可轉換貸款),分別專注於英國和德國的短環稀土磁體回收利用,並持有專注於英國長迴路稀土磁體回收的英國Mkango Rare Earths Ltd(“Mkango UK”)的100%權益(假設轉換了可轉換貸款)通過化學途徑。
Maginito和CoTec還通過擁有50/50股權的HyproMag USA LLC合資公司向美國推出HyproMag的回收技術。HyproMag也在評估其他司法管轄區,最近與Envipro在日本啓動了稀土磁體回收方面的合作。
Mkango還擁有處於後期階段的Songwe Hill稀土項目和馬拉維的大量稀土、鈾、鉭、鈮、金紅石、鎳和鈷的勘探組合,以及波蘭的Pulawy稀土分離項目。
欲了解更多信息,請訪問
《市場濫用條例》(MAR)披露
根據市場濫用條例(歐盟)第 596/2014 號(“MAR”)的規定,本公告中包含的信息被公司視爲內幕消息,該條例已通過《2018年歐盟(退出)法》納入英國法律。通過監管信息服務發佈本公告後,該內幕消息現已被視爲公共領域。
關於前瞻性陳述的警示說明
本新聞稿包含有關Mkango的前瞻性陳述(根據適用的證券法,該術語的含義範圍內)。通常,前瞻性陳述可以通過使用 “目標”、“計劃”、“預期” 或 “預期”、“預期”、“估計”、“打算”、“預期”、“相信” 等詞語來識別,或者某些行動、事件或結果 “可能”、“可能”、“會”、“應該”、“可能” 或 “可能” 的陳述將”、發生或將要實現,或其負面含義。提醒讀者不要過分依賴前瞻性陳述,因爲無法保證這些陳述所依據的計劃、意圖或預期會發生。就其性質而言,前瞻性陳述涉及許多假設,包括已知和未知的風險和不確定性,包括一般和具體的,這些假設增加了預測、預測、預測和其他前瞻性陳述不發生的可能性,這可能導致未來時期的實際表現和結果與此類前瞻性陳述所表達或暗示的對未來業績或結果的任何估計或預測存在重大差異。這些因素和風險包括在不限制上述內容的前提下,在英國、德國開發各種回收廠的融資的可得性(或延遲獲得)、政府行動和其他市場對Mkango正在研究和開發的金屬及相關下游產品的全球需求和定價的影響、將HPMS和化學品回收技術擴展到商業規模的能力、在回收和分離業務中具有更大財務能力和有效的競爭技術的競爭對手Maginito、用於回收活動的廢料供應情況、與回收和馬吉尼託各種回收廠的開發有關的政府監管(包括環境和其他法規的影響)和經濟學以及根據Maginito和CoTec之間的合作協議在美國的未來投資、可行性研究完成的結果和時間、成本超支、工廠建設和運營的複雜性以及可行性的積極結果對各種各樣的研究Maginito活動的擬議方面以及與松威山開發相關的技術、許可、環境、融資和其他風險。本新聞稿中包含的前瞻性陳述自本新聞發佈之日起作出。除非法律要求,否則公司不打算更新或修改任何前瞻性陳述,也沒有義務更新或修改任何前瞻性陳述,無論是由於新信息、未來事件還是其他原因,除非適用法律要求。此外,公司沒有義務評論第三方對上述事項的期望或陳述。
有關 Mkango 的更多信息,請聯繫:
Mkango 資源有限公司
威廉·道斯亞歷山大·萊蒙
首席執行官總裁
will@mkango.ca alex@mkango.ca
加拿大:+1 403 444 5979
@MkangoResources
SP Angel 企業融資有限責任公司
提名顧問和聯合經紀人
傑夫·基廷、卡羅琳·羅
英國:+44 20 3470 0470
替代資源資本
聯合經紀人
亞歷克斯·伍德、基思·道辛
英國:+44 20 7186 9004/5
多倫多證券交易所風險交易所既未批准也未批准本新聞稿的內容。多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所風險交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
本新聞稿不構成出售要約或邀約購買本公司在美國的任何股權或其他證券。本公司的證券將不會根據經修訂的1933年《美國證券法》(“美國證券法”)進行註冊,也不得在美國境內向美國個人或爲美國人的帳戶或利益進行發行或出售,除非某些交易不受《美國證券法》的註冊要求。
該信息由倫敦證券交易所的新聞服務RNS提供。RNS已獲得金融行爲監管局的批准,成爲英國的主要信息提供商。與使用和分發此信息相關的條款和條件可能適用。欲了解更多信息,請聯繫 rns@lseg.com 或訪問。
來源:Mkango Resources Ltd.