Business
Mkango Resources to Create European Rare Earths Hub in Poland With Grupa Azoty Pulawy, Poland’s Leading Fertiliser and Chemicals Company
LONDON and VANCOUVER, British Columbia, June 07, 2021 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to annou
About this update from Mkango Resources Ltd.
[{"type":"text","content":" LONDON and VANCOUVER, British Columbia, June 07, 2021 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the \"Company\" or \"Mkango\") is pleased to announce that Mkango and Grupa Azoty Zakłady Azotowe ”Pulawy” S.A. (“Grupa Azoty PULAWY”) (together the “Parties”) have agreed to work together towards development of a rare earth separation plant (the \"Plant”) in Poland. A new Polish wholly owned subsidiary of Mkango, Mkango Polska, has been established anpolad a highly experienced Country Director for Poland, Dr Jarosław Pączek, has been appointed, together with rare earth separation experts, Carester, and a strong team of technical advisors and engineers. Grupa Azoty PULAWY (Warsaw Stock Exchange: ZAP) is part of The Grupa Azoty Group, the European Union’s second largest manufacturer of nitrogen and compound fertilizers, and a major chemicals producer. Its products are exported to over 20 countries around the world, including Europe, the Americas and Asia. The Parties have signed an exclusive lease option agreement for a site adjacent to Grupa Azoty PULAWY’s large scale fertiliser and chemicals complex at Pulawy in Poland, which provides excellent infrastructure, access to reagents and utilities on site, and an attractive operating environment, resulting in a highly competitive operating cost position for the Plant, based on scoping studies to date. Located within a Polish Special Economic Zone, the site provides excellent access to European and international markets. Production from the Plant will strengthen Europe’s security of supply for rare earths, used in electric vehicles, wind turbines and other green technology and strategic applications, and aligns with European initiatives to create more robust, diversified supply chains. Development of the Plant is expected to bring significant benefits to the Mkango group: Higher value-added products with increased margins – targeting 2,000 tonnes per year of separated neodymium (Nd) / praseodymium (Pr) oxides, and 50 tonnes per year dysprosium (Dy) and terbium (Tb) oxides in a heavy rare earth enriched carbonate Greater integration – plant development fully underpinned by sustainably sourced, purified mixed rare earth carbonate from Mkango’s Songwe Hill operations, with other synergies being evaluated Increased marketing flexibility with a broader range of potential cust...