June 7th RNS... a great read16 Jul 2021 14:06
(Extract continued)
A new Polish wholly owned subsidiary of Mkango, Mkango Polska, has been established and a highly experienced Country Director for Poland, Dr Jaroslaw Paczek, has been appointed, together with rare earth separation experts, Carester, and a strong team of technical advisors and engineers.
https://www.investegate.co.uk/mkango-resources-ltd--mka-/rns/mkango-to-create-rare-earths-hub-in-poland/202106070700109361A/
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:
o 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
o 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
o Increased marketing flexibility with a broader range of potential customers - future opportunities to produce and market separated heavy rare earths
o Catalyst for regional growth and the green transition - potential for further downstream developments and related businesses, including renewables, creating additional jobs in the region
Engagement with financial institutions is underway to accelerate development, and additional strategic partnerships, downstream developments and marketing opportunities are being evaluated.
Feasibility studies for the Plant are being undertaken in parallel with Mkango's Songwe Hill rare earths project ("Songwe") in Malawi and other opportunities, including Mkango's interest in HyProMag Limited, which is developing production of short loop recycled rare earth magnets in the UK.