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Mkango Enters Into Agreement With Talaxis to Fund Development of the Songwe Hill Rare Earths Project in Malawi
Nov. 16, 2017 08:58AM PST
Rare Earth InvestingMkango Resources (TSX VENTURE:MKA)(AIM:MKA) (the “Company” or “Mkango”) is pleased to announce that it has entered into an agreement (“Agreement”) with Talaxis Limited (“Talaxis”), a wholly owned subsidiary of Noble Group Limited: William Dawes, Chief Executive Officer of Mkango, said: “This transaction is transformational for Mkango and for Malawi, and is a further endorsement of …
Mkango Resources (TSX VENTURE:MKA)(AIM:MKA) (the “Company” or “Mkango”) is pleased to announce that it has entered into an agreement (“Agreement”) with Talaxis Limited (“Talaxis”), a wholly owned subsidiary of Noble Group Limited:
William Dawes, Chief Executive Officer of Mkango, said:
“This transaction is transformational for Mkango and for Malawi, and is a further endorsement of the Company’s strategy and potential. This Agreement significantly strengthens our balance sheet whilst ensuring that the Company is fully funded to progress Songwe and our collaboration with Metalysis.
It also comes at a pivotal time in the rare earth market with a very strong demand outlook for rare earths such as neodymium and praseodymium used in permanent magnets for electric vehicles, wind turbines and other clean technology applications. We are very excited to be working with Talaxis, and moving forward with the bankable feasibility study for Songwe and Phase II of the research and development programme with Metalysis.”