Mkango Resources (AIM:MKA) (TSX-V:MKA) (the “Company” or “Mkango”) is pleased to announce that it has been granted an Exclusive Prospecting Licence (EPL0475/17) (the “Chimimbe Hill” licence) covering the Chimimbe Hill nickel – cobalt deposit and other targets in Mchinji district, central Malawi.
Alexander Lemon, President of Mkango, said:
“We are delighted to have been granted the Chimimbe Hill nickel – cobalt exploration licence, which is consistent with our strategy to target raw materials and technologies geared to accelerating growth in the electric vehicle market.
Both nickel and cobalt are increasingly in demand as cathode materials for batteries in electric vehicles. This new licence, when combined with the Songwe Hill rare earths project and our collaboration with Metalysis on neodymium alloys for permanent magnets, positions Mkango as a potential future supplier of the critical raw materials used in both batteries and permanent magnet motors in electric vehicles.”