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Mkango Signs MDA with Malawi Government for Songwe
MKANGO SIGNS MINING DEVELOPMENT AGREEMENT WITH MALAWI GOVERNMENT FOR THE SONGWE HILL RARE EARTH P...
About this update from Mkango Resources Ltd.
[{"type":"text","content":"Mkango Signs MDA with Malawi Government for SongweMKANGO SIGNS MINING DEVELOPMENT AGREEMENT WITH MALAWI GOVERNMENT FOR THE SONGWE HILL RARE EARTH PROJECTHighlightsLancaster Exploration, a 100% owned subsidiary of Mkango Resources Limited, and the Malawi Government have signed a Mining Development Agreement (\"MDA\") for the Songwe Hill Rare Earths Project in MalawiThe signing of the Songwe MDA confirms the fiscal terms applicable to the project and enhances the options to create value for shareholders in the context of the ongoing strategic review and engagement with potential strategic investors, development and commercial banks, and offtakers. LONDON, UK AND VANCOUVER, BC / ACCESSWIRE / July 29, 2024 / Mkango Resources Ltd. (AIM:MKA)(TSX-V:MKA) (the \"Company\" or \"Mkango\") is pleased to announce that Lancaster Exploration Limited, a British Virgin Islands company and Lancaster Exploration Limited, a Malawi company, both 100% owned subsidiaries of Mkango, and the Malawi Government have signed the Mining Development Agreement (\"MDA\") for the Songwe Hill Rare Earths Project (\"Songwe Hill\" or the \"Project\") in Malawi. The signing ceremony was held at the Office of the President and Cabinet in Lilongwe, Malawi during the evening of Friday 26 th July 2024.Hon. Minister Monica Chang'anamuno MP, Minister of Mining for Malawi stated: \"The signing of the MDA marks a momentous and significant occasion in the history of Malawi's mining sector. It is with great pride and optimism that we sign the MDA between the Government of Malawi and Lancaster Exploration Limited (Mkango) paving the way to start mining Rare Earths at Songwe Hill in Phalombe.The MDA signed by the Government of Malawi is a product of almost two years of hard work. I would like to thank the team at Mkango for their positive partnership spirit during the negotiation period. This Agreement is not just a contractual obligation; it symbolizes a renewed partnership, a commitment to sustainable development, and a shared vision for a prosperous future for both parties. The journey to this has been marked by diligent negotiations, mutual respect, and a deep understanding of the potential that lies beneath our feet.The conclusion and signing of this MDA is a testament to what can be achieved when we work together with a common purpose. It will ensure that the benefits of ...