REG - Mkango Resources Ltd - PULAWY ANNOUNCED AS CRITICAL MINERAL PROJECT

Mkango ResourcesAnnouncement

25/03/2025 15:45

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RNS Number : 1160C  Mkango Resources Limited  25 March 2025

 

 

 MKANGO RESOURCES LTD.
 550 Burrard Street
 Suite 2900
 Vancouver
 BC V6C 0A3
 Canada

 

MKANGO'S PULAWY RARE EARTH SEPARATION PROJECT ANNOUNCED AS A STRATEGIC PROJECT
UNDER EU CRITICAL RAW MATERIALS ACT

 

 

London / Vancouver: March 25, 2025 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
("Mkango") is pleased to announce that the Pulawy Rare Earth Separation
Project in Poland ("Pulawy") has been designated as a Strategic Project by the
European Commission under the Critical Raw Materials Act ("CRMA").

 

·  Strategic status confirms the importance of the Pulawy project in
supplying rare earth oxides to supply chains across the European Union and
other markets.

·  Permitting processes will be accelerated and simplified in accordance
with time limits set out within the CRMA.

·  The Pulawy Project will benefit from coordinated support from the
Commission, Member States and financial institutions, in particular in terms
of access to finance and in supporting project promoters by facilitating
connections with potential offtakers.

 

Strategic Project Status under the EU Critical Raw Materials Act

 

A list of 47 strategic critical raw material projects designated as Strategic
Projects under Regulation (EU) 2024/1252 of the European Parliament and of the
Council, commonly referred to as the Critical Raw Materials Act ("CRMA") was
released today.

 

On 17 February 2025, Mkango Polska (a 100% owned subsidiary of Mkango
Resources Ltd.) and Grupa Azoty Puławy signed a land lease agreement for the
construction of a strategic rare earth element separation facility in Puławy
(the "Pulawy Project"). The companies indicated that the project is in line
with European initiatives concerning critical raw materials. The Pulawy
Project was included in today's list from the European Commission.

 

The Pulawy Project has been assessed by the EU to be highly important to the
EU's supply security of strategic raw materials and possesses viable technical
feasibility within reasonable timeframes. Under the CRMA, the project is
required to be implemented in a sustainable manner, minimizing environmental
and social impacts. As an EU-based project, it provides cross-border benefits,
including for downstream sectors.

 

The project will benefit from expedited permitting processes, with the
responsibility for meeting the permitting timelines set out in the CRMA
resting with Poland, the Member State Government. The CMRA provides that
permitting processes will not exceed 15 months for processing/refining
projects such as the Pulawy Project.

 

Obtaining Strategic Project status offers key advantages for developers,
significantly facilitating and accelerating the development of strategic raw
materials projects within the EU.

 

Pulawy Rare Earth Separation Project

 

The Puławy Project will aid the creation of a secure supply chain option for
neodymium, praseodymium, dysprosium, and terbium for the European Union. All
these rare earth elements are critical in the production of electric vehicles,
wind turbines and other clean energy applications that are key to Europe's
Green Agenda.

 

The proposed plant will target production of 2,000 tonnes/year of neodymium
and/or praseodymium oxides, and 50 tonnes/year of dysprosium and terbium
oxides. Lanthanum cerium carbonate will also be produced at the site.

 

About Mkango Resources Ltd.

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 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 Project in Poland. Mkango has
signed a letter of Intent with Crown PropTech Acquisitions to list the Songwe
Hill and Pulawy Projects on NASDAQ via a SPAC Merger.

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, its business, the Plant and Songwe.
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, market effects on global demand

and pricing for the metals and associated downstream products for which Mkango
is exploring, researching and

developing, factors relating the development of the Pulawy Project, including
the outcome of the feasibility study, cost overruns, complexities in building
and operating the Plant, changes in economics and government regulation,

the positive results of a feasibility study on Pulawy Project and delays in
obtaining financing or governmental approvals or, and the impact of
environmental and other regulations relating to, Songwe and the Pulawy
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 and Mkango Polska Sp. Z.o.o

 

William
Dawes
Alexander Lemon
 
Dr. Jarosław Pączek

Chief Executive Officer
                                 President
 
Country Director

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

 

Canada: +1 403 444 5979

Poland: +48 664 144 130

www.mkango.ca

@MkangoResources

 

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Jen Clarke, Devik Mehta

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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