REG - Mkango Resources Ltd - HYPROMAG SHOWCASES RECYCLING PROJECTS

Mkango ResourcesAnnouncement

13/12/2024 11:00

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RNS Number : 0576Q  Mkango Resources Limited  13 December 2024

 MKANGO RESOURCES LTD.  COTEC HOLDINGS CORP.
 550 Burrard Street     755 Burrard Street
 Suite 2900             Suite 428
 Vancouver              Vancouver
 BC V6C 0A3             V6Z 1X6
 Canada                 Canada

 

 

HYPROMAG SHOWCASES ITS RARE EARTH MAGNET RECYCLING AND MANUFACTURING PROJECTS
AT THE MINERALS SECURITY PARTNERSHIP MEETING IN BRUSSELS

 

London/Vancouver - 13 December 2024 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
and CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) ("CoTec") are pleased to
announce that HyProMag Ltd. ("HyProMag") presented its rare earth magnet
recycling and manufacturing projects during yesterday's Minerals Security
Partnership ("MSP") meeting in Brussels.

The following statement was released by the Governments of the Republic of
Korea (ROK) and Australia, Canada, Estonia, Finland, France, Germany, India,
Italy, Japan, Norway, Sweden, the United Kingdom, the United States of
America, and the European Commission following conclusion of the Meeting:
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/)

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 MSP for support
given its strong potential to contribute towards the development of
responsible critical mineral supply chains: Joint Statement on the Minerals
Security Partnership Announce Support for Mining, Processing, and Recycling
Projects - United States Department of State
(https://www.state.gov/joint-statement-on-the-minerals-security-partnership-announce-support-for-mining-processing-and-recycling-projects/)

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,  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 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 www.mkango.ca (about%3Ablank)

About CoTec Holdings Corp.

CoTec is a publicly traded investment issuer listed on the Toronto Venture
Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and
CTHCF respectively. CoTec is an environment, social, and governance
("ESG")-focused company investing in innovative technologies which have the
potential to fundamentally change the way metals and minerals can be extracted
and processed for the purpose of applying those technologies to undervalued
operating assets and recycling opportunities, as it transitions into a
mid-tier mineral resource producer.

CoTec is committed to supporting the transition to a lower carbon future for
the extraction industry, a sector on the cusp of a green revolution as it
embraces technology and innovation. It has made four investments to date and
is actively pursuing operating opportunities where current technology
investments could be deployed.

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

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 and CoTec.
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 successful conclusion of the MDA, the availability of (or
delays in obtaining) financing to develop Songwe Hill, the Recycling Plants
being developed by Maginito in the UK, Germany and the US (the "Maginito
Recycling Plants"), the results of the Feasibility Study and the Pulawy
Separation Plant, governmental action and other market effects on global
demand and pricing for the metals and associated downstream products for which
Mkango is exploring, researching and developing, geological, technical and
regulatory matters relating to the development of Songwe Hill, the ability to
scale the HPMS and chemical recycling technologies to commercial scale,
commercial viability of Inserma Processing Units, competitors having greater
financial capability and effective competing technologies in the recycling and
separation business of Maginito and Mkango, availability of scrap supplies for
Maginito's 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 Maginito Recycling Plants, and the Pulawy
Separation Plant and future investments in the United States pursuant to the
proposed 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 Mkango's, Maginito's
and CoTec's activities. 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 and CoTec disclaim 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 and CoTec undertake 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

 

For further information on CoTec, please contract:

 

CoTec Holdings Corp.

Braam Jonker

Chief Financial Officer

braam.jonker@cotec.ca

Canada: +1 604 992-5600

 

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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