A subsidiary of Mkango Resources has signed an investment term sheet and one year exclusivity agreement with HyProMag Limited, a private company focused on rare earth magnet recycling.
A subsidiary of Mkango Resources (TSXV:MKA) has signed an investment term sheet and one year exclusivity agreement with HyProMag Limited, a private company focused on rare earth magnet recycling.
Mkango owns a 75.5 percent stake in Maginito.
As quoted from the press release:
William Dawes, chief executive of Mkango stated: “We are very pleased to be working with the leading team and University in the field of magnetic materials. We believe that rare earth magnet recycling and primary production will play complementary roles in the development of a sustainable electric vehicle supply chain and we see clear synergies with the development of Mkango’s advanced stage Songwe Hill rare earths project in Malawi.”
Prof. Allan Walton, Director of HyProMag stated: “In recent years the rare earth materials which are used in permanent magnets have come under considerable supply constraints. At the same time there is very little recycling of these materials partly due to the technological challenges for efficiently separating magnets from end of life products. This investment in HyProMag will exploit HPMS in order to provide a secure supply of rare earth alloys with a very low environmental footprint. The strategic alliance with Mkango has future potential for supplementing and enhancing products with additional independent supply chains.”
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1928.98 | +1.26 | |
Silver | 23.60 | +0.01 | |
Copper | 4.23 | -0.04 | |
Palladium | 1713.17 | 0.00 | |
Platinum | 1087.26 | 0.00 | |
Oil | 79.38 | -1.63 | |
Heating Oil | 3.19 | -0.11 | |
Natural Gas | 2.85 | -0.09 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured Critical Metals Stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.