Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango")
is pleased to announce the appointment of Jones Group International
as its United States strategy advisor.
Jones Group International, a Washington, US
based advisory firm led by retired General James Jones, former
National Security Advisor to President Barack Obama, will assist
Mkango, advising on US critical materials security, energy
security, market access and trade promotion.
Alexander Lemon, President of Mkango
stated:
“The Biden administration has an ambitious
agenda for a clean energy revolution which will begin with the
recently announced $2tn Infrastructure bill aimed at clean energy
initiatives and is expected to result in increased U.S. stockpiling
of rare earths. The United States intends to achieve a carbon free
power sector by 2035 and a net zero economy by 2050.
“Reaching these goals will require significant
quantities of rare earths. Mkango’s Songwe Hill Rare Earths project
in Malawi, plans for a separation plant and interest in UK rare
earth magnet recycler, HyProMag, means it is well placed to play a
strategic role in supplying the US critical minerals supply chain
as well as other key markets.
“We are, therefore, delighted to appoint Jones
Group International as our United States strategy advisor,
significantly enhancing Mkango’s positioning in the US market. This
appointment further underpins our integrated ‘Mine Refine Recycle’
strategy and we very much look forward to working with Jones Group
International.”
General James Jones, President of Jones Group
International stated:
“I look forward to our partnership with Mkango
Resources. Rare earths are the source of elements and metals
essential to the advanced technologies of today and tomorrow,
including those that will drive forward clean energy and enhance
the prospects of significantly reduced carbon emissions that are so
damaging to our environment.
“Mkango’s Songwe Hill Rare Earths project in
Malawi, its plans for a rare-earths separation plant and related
projects portend to expand and reinforce the supply chain of
critical elements essential to the economic and national security
wellbeing of the transatlantic community. I and my colleagues
at JGI are eager to bring a US dimension to this strategic
undertaking.”
About
Mkango
Mkango’s corporate strategy is to develop new
sustainable primary and secondary sources of neodymium,
praseodymium, dysprosium and terbium to supply accelerating demand
from electric vehicles, wind turbines and other clean technologies.
This integrated ‘mine, refine, recycle’ strategy differentiates
Mkango from its peers, uniquely positioning the Company in the rare
earths sector.
Mkango is developing the 51% owned Songwe Hill
rare earths project (the “Project”) in Malawi with the ongoing
Feasibility Study funded through a £12 million investment by
strategic partner Talaxis Limited. Malawi is known as “The Warm
Heart of Africa”, a stable democracy with existing road, rail and
power infrastructure, and new infrastructure developments underway.
Following completion of the Feasibility Study, Talaxis has an
option to acquire a further 26% interest in Songwe by arranging
financing for project development including funding the equity
component thereof.
In parallel, through its 75.5% interest in
Maginito Limited (www.maginito.com), Mkango is developing green
technology opportunities in the rare earths supply chain,
encompassing neodymium (NdFeB) magnet recycling as well as
innovative rare earth alloy, magnet and separation technologies.
Maginito holds a 25% interest in UK rare earth (NdFeB) magnet
recycler, HyProMag Limited ( www.hypromag.com ).
Maginito’s strategy is underpinned by offtake
rights for sustainably sourced primary and secondary raw materials
from Songwe and HyProMag, respectively, and is geared to
accelerating growth in the electric vehicle sector, wind power
generation and other industries driven by decarbonization of the
economy.
Mkango also has an extensive exploration
portfolio in Malawi, including the recently announced Mchinji
rutile discovery, for which assay results are pending, in addition
to the Thambani uranium-tantalum-niobium-zircon project and
Chimimbe nickel-cobalt project.
Market Abuse Regulation (MAR)
Disclosure
Certain information contained in this
announcement may have been deemed inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014 until the
release of this announcement.
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, its business and the
Project. Generally, forward looking statements can be identified by
the use of words such as “plans”, “expects” or “is expected”,
“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. Forward looking statements in this news
release include statements with respect to the global market for
rare earth metals the Company is exploring for, completion of the
feasibility study for Songwe. 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,
governmental action relating to COVID-19, COVID-19 and other market
effects on global demand for the metals and associated downstream
products for which Mkango is exploring, researching and developing,
the positive results of a feasibility study on the Project and
delays in obtaining financing or governmental or stock exchange
approvals for the Project. 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
assumes 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 |
|
|
Alexander Lemon |
|
William Dawes |
President |
|
Chief Executive Officer |
alex@mkango.ca |
|
will@mkango.ca |
Canada: +1 403 444 5979 |
|
|
www.mkango.ca@MkangoResources
BlytheweighFinancial Public
RelationsTim BlytheUK: +44 207 138 3204
SP Angel Corporate Finance
LLPNominated Adviser and Joint BrokerJeff Keating,
Caroline RoweUK: +44 20 3470 0470
Alternative Resource
CapitalJoint BrokerAlex WoodUK: +44 20 7186 9004
Bacchus Capital
AdvisersStrategic and Financial AdviserRichard AllanUK:
+44 20 3848 1642
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.
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