MKANGO RESOURCES
LTD.
550 Burrard
Street
Suite
2900
Vancouver
BC V6C
0A3
Canada
HYPROMAG TO COLLABORATE WITH
AREERA ON RECOVERY AND RECYCLING OF RARE EARTH MAGNETS FROM SPEAKER
ASSEMBLIES
Highlights
· HyProMag is collaborating
with Areera, which has developed Europe's most technologically
advanced screen-based recycling facility in West Yorkshire,
UK
· The collaboration is focused
on recovery and recycling of rare earth magnets embedded within
speaker assemblies associated with a range of display
equipment
· In parallel, HyProMag and
Areera are working with Inserma and RISE Research Institutes of
Sweden ("RISE") on the pre-processing of speakers and automated
sorting to provide a concentrated feed of NdFeB magnets for
recycling via the Hydrogen Processing of Magnet Scrap (HPMS)
technology
· Rare earth magnets derived
from speakers represent a major market opportunity for recycling in
the UK and other jurisdictions, given that minimal quantities are
currently recovered, with the majority currently lost to landfill -
this collaboration can unlock that potential
London / Vancouver: January 13, 2025
- Mkango Resources Ltd.
(AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce
that pursuant to a non-binding (the "Term Sheet"), HyProMag Limited
("HyProMag") is collaborating with Areera Limited ("Areera")
on the recovery and recycling of rare earth
magnets embedded within speaker assemblies associated with a range
of display equipment. HyProMag is 100% owned by Maginito Ltd, a
subsidiary of Mkango (79.6%) and CoTec (20.4%)
Nick Mann, Managing Director of HyProMag,
stated: "This collaboration unlocks an additional feed
source for HPMS and allows HyProMag and Areera to recycle critical
materials that are currently lost in traditional recycling routes.
It is very encouraging that Areera sees the benefit of the
technology developed by Inserma and RISE as well as the solution
that the HPMS process presents. HyProMag is looking forward to
further developing this supply chain."
Craig Thompson, Chief Executive of Areera,
stated: "Areera is excited to have partnered with
HyProMag on the recovery of critical rare earth materials from
speakers in televisions and monitors, an EU and UK first. This
demonstrates one of the benefits of Areera's unique separation
process for recycling of display equipment without shredding of
whole screens."
Pursuant to the collaboration,
HyProMag partners, Inserma and RISE have developed an automated
sorting system, combining AI Vision and magnetic imaging, which
successfully sorts and separates speakers containing NdFeB magnets
for recycling from those containing ferrite magnets. This system is
currently being trialled on speaker assemblies supplied by Areera.
Speakers containing NdFeB magnets are then further processed by
Inserma using a bespoke pre-processing technology to provide a
concentrated feed for HyProMag.
The ultimate objective is to deploy
automated sorting and pre-processing units, developed by Inserma,
to Areera sites in the UK to provide speaker derived NdFeB
feedstock to HyProMag. This enables Areera to capture more value
from its scrap streams, unlocks a new source of NdFeB feedstock
supply for HyProMag, and is aligned with both companies' visions
for development of sustainable, circular supply chains.
Although there can be no certainty
at this stage given the non-binding nature of the Term Sheet, the
Directors remain confident that the Term Sheet will lead to a
binding definitive agreement between the parties and in the
meantime, the collaboration is already underway. Further
announcements will be made as appropriate.
About HyProMag
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 Minerals Security Partnership for
support given its strong potential to contribute towards the
development of responsible critical mineral supply
chains: Joint
Statement on the High-Level Minerals Security Partnership Forum
Events in Brussels - United States Department of
State
Please contact
magnets@hypromag.com
for magnet sales and scrap solutions, and
technical@hypromag.com
for consultation and collaboration.
For
more information, please visit http://hypromag.com
About Areera
Areera is the UK's largest dedicated
recycler of all Display Equipment from retail Electronic Point of
Sale to Sports Stadia screens and all sizes and types of screens in
between.
Using the latest automation and
robotics to process Display Equipment, along with x-ray technology
for processing of plastics, Areera continues to invest and develop
new technology without the use of shredding of whole screens to
recover clean separated fractions for reuse and
recycling.
The recovery of Critical Rare Earth
materials from electronic waste demonstrates Areera's drive to push
the recycling industry to develop Best Available Treatment Recovery
and Recycling Techniques (BATRRT) for recovery and recycling of
fractions from display equipment.
This collaboration forms part of
Areera's continued development and installation of additional new
technologies to produce clean commodities using robotics, 3D
scanning and laser polymer separation.
For
more information, please visit https://areera.co.uk
or email hello@areera.co.uk
About Mkango
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 Limited ("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 HPMS recycling technology
into the United States via the 50/50 owned HyProMag USA LLC joint
venture company.
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
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. Generally,
forward looking statements can be identified by the use of words
such as "targeted", "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, the ability to scale the HPMS and
chemical recycling technologies to commercial scale, competitors
having greater financial capability and effective competing
technologies in the recycling business of HyProMag, availability of
scrap supplies for 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 various recycling plants . 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 disclaims 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 undertakes 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
@MkangoResources
SP
Angel Corporate Finance LLP
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Broker
Jeff Keating, Caroline
Rowe
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