By Elena Vardon
Mkango Resources said that its subsidiary, rare-earth magnet recycling company HyProMag, was chosen by the Minerals Security Partnership to be one of its key projects.
The London- and Toronto-listed mining company said that HyProMag was selected for its potential to contribute to the development of responsible critical mineral supply chains.
The Minerals Security Partnership is made up of 14 governments and aims to ensure that adequate supplies of minerals meet net zero-carbon goals.
Shares at 1444 GMT were up 0.25 pence, or 2.9%, at 8.75 pence, having hit a high of 9.5 pence at the time of the announcement.
“We see this as a significant endorsement of the technology, which can make a substantial impact in unlocking the supply chain for rare earth magnet recycling from end-of-life products and enabling the production of rare earth alloys and magnets with a significantly reduced carbon footprint,” Chief Executive Will Dawes said.
Write to Elena Vardon at [email protected]
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