REG - Mkango Resources Ltd - MKANGO RELEASES FIRST ESG REPORT

Mkango ResourcesAnnouncement

13/11/2023 07:00

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RNS Number : 1632T  Mkango Resources Limited  13 November 2023

 

 

 

 

MKANGO RESOURCES
LTD.

550 Burrard
Street

Suite
2900

Vancouver

BC V6C
0A3

Canada

 

13 November 2023

 

MKANGO RESOURCES LIMITED RELEASES FIRST ENVIRONMENTAL SOCIAL GOVERNANCE REPORT

 

London/Vancouver: November 13 ‒ Mkango Resources Ltd (AIM/TSX-V: MKA) (the
"Company" or "Mkango") is pleased to announce that it has published its
inaugural Environmental, Social & Governance ("ESG") Report for the year
2022. This report has been prepared, to the extent applicable for the current
phase of operations, in accordance with the Global Reporting Initiative
Standards ("GRI") 'Core' option and is accompanied by a wider set of
disclosures on Mkango's sustainability performance.

 

2022 ESG highlights include:

 

Ø IFC compliant ESHIA completed and approved by Malawian Environmental
Protection Agency (MEPA)

Ø In depth stakeholder engagement completed for ESHIA safely despite Covid-19

Ø Streamlined business structure further enabling Mine, Refine and Recycle
Strategy

Ø CSR spend to date of US$406,000 from inception to 31 December 2022

 

The disclosure standards and frameworks, including the United Nations Global
Compact, Sustainability Accounting Standards, Board Metals and Mining
Sustainability Accounting Standard, and the Mining Local Procurement Reporting
Mechanism, continue to inform and guide Mkango's sustainable transition from
an explorer to a developer and demonstrates the Company's commitment to
transparent business conduct and its work to manage potential social and
environmental impacts. Please follow this link to the ESG report on the
Company's website
https://mkango.ca/site/assets/files/4152/mkango_esg_report_web12-11-23.pdf
(https://mkango.ca/site/assets/files/4152/mkango_esg_report_web12-11-23.pdf)

 

Alexander Lemon, Mkango President, commented: "I am delighted to publish our
inaugural ESG Report. As countries around the world move towards climate-smart
economies, there is growing recognition of the importance of the natural and
social environment within global society. As we develop the Songwe Hill rare
earth project, we are meeting the challenge of managing these precious shared
resources, including water, biodiversity, land and air, and in the future will
be producing rare earth minerals that are vital to the world's low-carbon
transformation. The sustainable development of Songwe Hill in Malawi is an
example of where we can make a meaningful contribution to the economic, social
and sustainable development of an emerging economy and its people. Mkango is
committed to creating lasting value for future generations. We are building a
business that is designed to create value for all stakeholders for many years
to come."

 

On Friday 10(th) November, Hon. Monica Chang'anamuno Minister of Mines for
Malawi and a large government delegation visited the Songwe Hill rare earth
project. The Hon. Minister was impressed with all of the work that had been
completed at the project site to date and indicated that the Ministry of Mines
would sign the mining development agreement before the end of 2023.

 

For further information, please contact:

 

 Mkango Resources Limited                                 Canada: +1 403 444 5979

 William Dawes

 Chief Executive Officer

 will@mkango.ca (mailto:will@mkango.ca)

 Alexander Lemon

 President

 alex@mkango.ca (mailto:alex@mkango.ca)

 Robert Sewell

 Chief Financial Officer

 rob@mkango.ca (mailto:rob@mkango.ca)

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

 @MkangoResources

 Tavistock                                                UK: +44 (0) 20 7920 3150

 PR and IR Adviser

 Jos Simson, Cath Drummond, Adam Baynes

 mkango@tavistock.co.uk (mailto:mkango@tavistock.co.uk)

 SP Angel Corporate Finance LLP                           UK: +44 20 3470 0470

 Nominated Adviser and Joint Broker

 Jeff Keating, Kasia Brzozowska

 Alternative Resource Capital                             UK: +44 20 7186 9004/5

 Joint Broker

 Alex Wood, Keith Dowsing

 

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 listed on AIM and the TSX-V.

Mkango is developing its Songwe Hill rare earths project ("Songwe Hill") in
Malawi with a Feasibility Study completed in July 2022 and an Environmental,
Social and Health Impact Assessment approved by the Government of Malawi in
January 2023. Malawi is known as "The Warm Heart of Africa", a stable
democracy with existing road, rail and power infrastructure, and new
infrastructure developments underway.

In parallel, Mkango and Grupa Azoty PULAWY, Poland's leading chemical company
and the second largest manufacturer of nitrogen and compound fertilizers in
the European Union, have agreed to work together towards development of a
rare earth Separation Plant at Pulawy in Poland (the "Pulawy Separation
Plant"). The Pulawy Separation Plant will process the purified mixed rare
earth carbonate produced at Songwe Hill.

Through its 79.4% ownership of Maginito Limited ("Maginito") (www.maginito.com
(http://www.maginito.com/) ), Mkango is also 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.

Mkango also has an extensive exploration portfolio in Malawi, including the
Mchinji rutile exploration project, the Thambani
uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.

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
"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, governmental action and other market effects on global
demand and pricing for the metals Mkango is exploring and developing, and
geological, technical and regulatory matters relating to the development of
Songwe Hill, the Thambani Licences, the plants being developed by Maginito and
the Pulawy Separation Plant, 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.

 

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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