JOHANNESBURG (miningweekly.com) – Dual-listed Mkango Resources has started Phase 2 of its research and development programme with Metalysis and has raised £500 000 in a share placing to help fund the programme.
"Mkango is now uniquely positioned in the rare earths sector and these very promising developments provide a strong platform for moving into Phase 2. Our collaboration with Metalysis enhances our ability to meet supply chain requirements for accelerating growth in the electric vehicle market,” CEO Will Dawes said in a statement on Friday.
Mkango has entered into an agreement with Talaxis, a wholly owned subsidiary of Noble Group, with Talaxis to invest £500 000 in Mkango in return for 14.29-million, or about 14.5%, of Mkango’s shares.