• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Critical Metals Market
    Critical Metals News
    Critical Metals Stocks
    • Critical Metals Market
    • Critical Metals News
    • Critical Metals Stocks

    Mkango Commences Feasibility Study for Songwe Hill Rare Earths Project

    Nicole Rashotte
    Jan. 25, 2018 09:12AM PST
    Critical Metals

    Mkango Resources Ltd. announced that investments totalling C$10.5 million have been received by its subsidiaries and will commences a feasibility study for the Songwe hill rare earths project in Malawi.

    Mkango Resources Ltd. (TSXV:MKA) announced that investments totalling C$10.5 million have been received by its subsidiaries and will commences a feasibility study for the Songwe hill rare earths project in Malawi.
    Highlights are as follows:

    • Talaxis has invested £5 million (C$8.8 million) into Mkango subsidiary, Lancaster Exploration Limited (“Lancaster”), in return for a 20% interest in Lancaster. Lancaster holds the licence for the advanced stage Songwe Hill rare earths project (“Songwe”) in Malawi.
    • The investment into Lancaster will fund the initial phase of the Feasibility Study for Songwe, including an extensive drilling programme starting in the second quarter of 2018, in parallel with ongoing processing flow sheet optimisation and work in relation to the Environmental, Social and Health Impact Assessment.
    • Talaxis has also invested £1 million (C$1.8million) into a new Mkango subsidiary, Maginito Limited (“Maginito”), in return for a 24.5% interest in Maginito.
    • Maginito is focused on neodymium alloy powders, magnet and other technologies relating to electric vehicles and other cleantech applications. This includes the collaboration with Metalysis Ltd announced in September 2017, which is focused on advanced alloys using neodymium or praseodymium with other elements for permanent magnet manufacturing.
    • On Mkango publishing an updated resource (compliant with NI 43-101 – Standards of Disclosure for Mineral Projects), Talaxis will invest £7 million (C$12.3 million) into Lancaster for a further 29% interest, increasing its total interest in Lancaster to 49%. This will fund further expenditure in relation to completion of the feasibility study.
    • On successful completion of the Phase II R&D programme with Metalysis, Talaxis will invest £1 million (C$1.8 million) into Maginito for a further 24.5% interest, increasing its total interest in Maginito to 49%.
    • Upon completion of the feasibility study for Songwe, and subject to completion of the definitive documentation, Talaxis will have the option to acquire a further 26% interest in Lancaster, increasing its aggregate interest to 75%, by arranging funding for 100% of remaining project development costs, including funding the equity component thereof. If Talaxis exercises its option, Mkango will retain a 25% interest, free carried to production.

    William Dawes, CEO of Mkango, commented:

    Following receipt of the investment from Talaxis, Mkango is uniquely positioned. We are one of very few companies with an advanced stage rare earths project fully funded to completion of a Feasibility Study with a clearly defined development pathway to production. This is complemented by downstream growth opportunities focused on the electric vehicle technology space. We look forward to working with Talaxis as well as the Government and people of Malawi as we move the project through the development phase to become a leading sustainable producer of rare earths.

    Click here to read the full Mkango Resources Ltd. (TSXV:MKA) press release.

    electric vehiclesni 43-101 standardstsxv:mkamkango resources
    The Conversation (0)

    Go Deeper

    AI Powered
    Periodic table symbols for 17 rare earth elements.

    Rare Earths Stocks: 9 Biggest Companies in 2025

    Saga Metals (TSXV:SAGA)

    Saga Metals

    Latest News

    Homerun Resources Inc. Signs Binding LOI for the Acquisition of Additional Mineral Rights in the Santa Maria Eterna Silica Sand District

    Locksley Resources Adds 249 Additional Claims to Landholding of More than 40 sq km of Highly Prospective Critical Minerals Ground in California's Mojave Region

    Allied Critical Metals Expands Santa Helena Breccia in Borralha with Long Tungsten Intercepts and Confirms High-Grade Trend

    LKY Doubles Landholding Abutting MP Materials in Mojave Hub

    Locksley Resources Limited Doubles Landholding Abutting MP Materials in Mojave Hub

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Critical Metals Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×