The game has changed3 Dec 2025 17:17
I am not following the daily ups and downs, nor holding my breath for MKA to benefit under any specific incentive schemes (which I do expect they will). For me the game changer is that US, EU, Japan and others have clearly understood that they cannot outsource their critical minerals supply to the lowest cost producer (China) and sleep peacefully at night thinking that their sourcing requirements are guaranteed to be fulfilled.
The game has changed, the world is moving at warp speed to a new technological future as well as circular economy and sustainable energy generation. These things require rare earths, lots of them and those that have them have a key economic and military advantage. Key players outside China will need to and have already accepted that higher prices will need to be paid for security of supply an of course China will not waste the opportunity to gain from higher global pricing if they cannot maintain their monopoly.
MKA has the lowest cost recycling technology and the end product cost is second lowest to China. This means very significant margins and possibility to compete long term without subsidies and other types of support, which is the long term business model I like. Relying on government policy for survival is a risky business.
The MKAR/Pulawy business model also works as Malawi is a low cost place to mine compared to US, Canada, EU while Poland and the Azoty plant in Pulawy already have major chemical, reagent and fertilizer production facilities so adding Rare earth processing to the wider site is not going to cause a local uprising
Very positive on the future for MKA
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