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Mkango and HyProMag to Collaborate in Major New Grant-Funded Project

LONDON and VANCOUVER, British Columbia, March 14, 2022 (GLOBE NEWSWIRE) — Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that its 100% owned subsidiary, Mkango UK, is collaborating with B&W Group, EMR, GKN Automotive, HyProMag, Jaguar Land Rover and UoB in a £3.4 million magnet recycling project, SCREAM, of which £2.4 million or 71% will be funded by Driving the Electric Revolution, an Industrial Strategy Challenge Fund challenge delivered by UK Research and Innovation (UKRI).

The budget for Mkango UK’s chemical processing pilot plant programme, to be developed as part of the Project, is £1.1 million, of which £0.8 million or 70% will be funded by UKRI. Mkango UK was established by Mkango to evaluate and develop complementary opportunities in rare earth recycling and green technology in the UK.

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