REG - Mkango Resources Ltd - HYPROMAG TO COLLABORATE WITH AREERA

Mkango ResourcesAnnouncement

13/01/2025 07:00

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RNS Number : 9621S  Mkango Resources Limited  13 January 2025

 

 

 

 

 

MKANGO RESOURCES
LTD.

550 Burrard
Street
 

Suite
2900
 

Vancouver
 

BC V6C
0A3
 

Canada
 
 

 

HYPROMAG TO COLLABORATE WITH AREERA ON RECOVERY AND RECYCLING OF RARE EARTH
MAGNETS FROM SPEAKER ASSEMBLIES

 

 

Highlights

·      HyProMag is collaborating with Areera, which has developed
Europe's most technologically advanced screen-based recycling facility in West
Yorkshire, UK

·      The collaboration is focused on recovery and recycling of rare
earth magnets embedded within speaker assemblies associated with a range of
display equipment

·      In parallel, HyProMag and Areera are working with Inserma and
RISE Research Institutes of Sweden ("RISE") on the pre-processing of speakers
and automated sorting to provide a concentrated feed of NdFeB magnets for
recycling via the Hydrogen Processing of Magnet Scrap (HPMS) technology

·      Rare earth magnets derived from speakers represent a major market
opportunity for recycling in the UK and other jurisdictions, given that
minimal quantities are currently recovered, with the majority currently lost
to landfill - this collaboration can unlock that potential

London / Vancouver: January 13, 2025 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
(the "Company" or "Mkango") is pleased to announce that pursuant to a
non-binding (the "Term Sheet"), HyProMag Limited ("HyProMag") is collaborating
with Areera Limited ("Areera") on the recovery and recycling of rare earth
magnets embedded within speaker assemblies associated with a range of display
equipment. HyProMag is 100% owned by Maginito Ltd, a subsidiary of Mkango
(79.6%) and CoTec (20.4%)

Nick Mann, Managing Director of HyProMag, stated: "This collaboration unlocks
an additional feed source for HPMS and allows HyProMag and Areera to recycle
critical materials that are currently lost in traditional recycling routes. It
is very encouraging that Areera sees the benefit of the technology developed
by Inserma and RISE as well as the solution that the HPMS process presents.
HyProMag is looking forward to further developing this supply chain."

Craig Thompson, Chief Executive of Areera, stated: "Areera is excited to have
partnered with HyProMag on the recovery of critical rare earth materials from
speakers in televisions and monitors, an EU and UK first. This demonstrates
one of the benefits of Areera's unique separation process for recycling of
display equipment without shredding of whole screens."

Pursuant to the collaboration, HyProMag partners, Inserma and RISE have
developed an automated sorting system, combining AI Vision and magnetic
imaging, which successfully sorts and separates speakers containing NdFeB
magnets for recycling from those containing ferrite magnets. This system is
currently being trialled on speaker assemblies supplied by Areera. Speakers
containing NdFeB magnets are then further processed by Inserma using a bespoke
pre-processing technology to provide a concentrated feed for HyProMag.

The ultimate objective is to deploy automated sorting and pre-processing
units, developed by Inserma, to Areera sites in the UK to provide speaker
derived NdFeB feedstock to HyProMag. This enables Areera to capture more value
from its scrap streams, unlocks a new source of NdFeB feedstock supply for
HyProMag, and is aligned with both companies' visions for development of
sustainable, circular supply chains.

Although there can be no certainty at this stage given the non-binding nature
of the Term Sheet, the Directors remain confident that the Term Sheet will
lead to a binding definitive agreement between the parties and in the
meantime, the collaboration is already underway.  Further announcements will
be made as appropriate.

About HyProMag

HyProMag is commercialising 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.

HPMS technology was developed at the University of Birmingham Magnetic
Materials Group and is exclusively licenced to HyProMag. The technology is
underpinned by approximately US$100 million of research and development
funding, 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 Minerals Security
Partnership for support given its strong potential to contribute towards the
development of responsible critical mineral supply chains: Joint Statement on
the High-Level Minerals Security Partnership Forum Events in Brussels - United
States Department of State
(https://www.state.gov/joint-statement-on-the-high-level-minerals-security-partnership-forum-events-in-brussels/)

Please contact magnets@hypromag.com (mailto:magnets@hypromag.com) for magnet
sales and scrap solutions, and technical@hypromag.com
(mailto:technical@hypromag.com) for consultation and collaboration.

For more information, please visit http://hypromag (http://hypromag) .com

About Areera

Areera is the UK's largest dedicated recycler of all Display Equipment from
retail Electronic Point of Sale to Sports Stadia screens and all sizes and
types of screens in between.

Using the latest automation and robotics to process Display Equipment, along
with x-ray technology for processing of plastics, Areera continues to invest
and develop new technology without the use of shredding of whole screens to
recover clean separated fractions for reuse and recycling.

The recovery of Critical Rare Earth materials from electronic waste
demonstrates Areera's drive to push the recycling industry to develop Best
Available Treatment Recovery and Recycling Techniques (BATRRT) for recovery
and recycling of fractions from display equipment.

This collaboration forms part of Areera's continued development and
installation of additional new technologies to produce clean commodities using
robotics, 3D scanning and laser polymer separation.

For more information, please visit https://areera.co.uk (https://areera.co.uk)
or email hello@areera.co.uk

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, 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 HPMS 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.

For more information, please visit www.mkango.ca (http://www.mkango.ca)

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, 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 business of HyProMag, 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 . 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

www.mkango.ca (http://www.mkango.ca)

@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.

 

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