Mkango Resources Ltd - rare earth metals explorer - Says BBA USA Inc and PegasusTSI Inc have been engaged to complete a feasibility study for the HyProMag USA asset. The study concerns the engineering and design of a rare earth element magnet recycling facility. "The feasibility study is expected to be completed during H2 2024. HyProMag USA has the potential to supply the US with a sustainable, long term domestic supply of neodymium/iron/boron permanent magnets to enable the creation of secure, low carbon and traceable rare-earth supply chains," it says. Mkango owns around 79% of Maginitom which in turn owns all of HyProMag. Toronto-listed CoTec Holdings Corp owns around 21% of Maginitom.
Current Mkango stock price: 6.15 pence, up 0.8% in London on Monday
12-month change: down 51%
By Eric Cunha, Alliance News news editor
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Mkango Res (MKA)