TIDMMKA
RNS Number : 4041A
Mkango Resources Limited
24 May 2023
MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
Appointment of Non-Executive Director
Mkango Appoints ESG Specialist Philipa Varris to Board and as
Chair of Sustainability Committee
London / Vancouver: May 24, 2023 - Mkango Resources Ltd.
(AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce
the appointment of Ms. Philipa Varris as independent non-executive
director of the Company, subject to the approval of the TSX Venture
Exchange ("TSX-V"). The appointment of Ms. Varris is part of the
Company's global expansion strategy and highlights the importance
the Company places on upholding the highest standards of
sustainability.
Ms. Varris has held leadership positions in environment, health,
safety and community management in the mining sector for over 25
years, primarily in Africa, Australasia and Latin America, across a
number of mineral commodities. Philipa has been awarded the
Australian Centenary Medal for leadership in Australia's largest
community consultation and strategic vision development initiative
and was recognized in 2020 as one of the Women in Mining's 100
Global Inspirational Women in Mining. Philipa holds a Master of
Science in Natural Resources from Curtin University of Technology,
is an AusIMM Chartered Environmental Professional and UK Committee
member, and is qualified with Corporate Directors International.
She holds the position of Head of Sustainability with Horizonte
Minerals and is a non-executive director of TSX-listed EnviroGold
Global.
As a champion for mining ESG leadership, Philipa has led teams
recognised with the Prospectors and Developers Association of
Canada (" PDAC ") Award for Environment and Social Responsibility,
the Australian Minerals and Energy Environment Foundation (" AMEEF
") Award for Environmental Excellence, and the Mines and Money ESG
Producer of the Year Award, amongst others.
Derek Linfield, Chairman of Mkango Resources, commented: "On
behalf of my fellow directors, I would like to welcome Philipa to
the Board and look forward to working closely with her. Philipa
brings a wealth of experience to the Board and her background in
sustainability, health and safety will be of enormous value to
Mkango as we progress the Songwe Hill project in Malawi and our
recycling business in the United Kingdom, Germany and the United
States. We particularly look forward to her contribution as Chair
of the newly formed Sustainability Committee of the Board.
Sustainability has deep roots in Mkango's corporate culture and is
a key driver of our success in Malawi. The inauguration of a
dedicated Board committee reflects Mkango's desire for deeper Board
level oversight of this increasingly technical arena, as the
company positions itself for production in both mining and
recycling."
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to Philipa Ann Varris (aged 51):
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
EnviroGold Global Limited Golden Star Oil Palm Plantations
Limited
-----------------------------------------
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
About Mkango
Mkango's corporate strategy is to develop new sustainable
primary and secondary sources of neodymium, praseodymium,
dysprosium and terbium to supply accelerating demand from electric
vehicles, wind turbines and other clean technologies. This
integrated Mine, Refine, Recycle strategy differentiates Mkango
from its peers, uniquely positioning the Company in the rare earths
sector. Mkango is listed on the AIM and the TSX-V.
Mkango is developing its flagship Songwe Hill rare earths
project ("Songwe Hill") in Malawi with a Definitive Feasibility
Study completed in July 2022 and an Environmental, Social and
Health Impact Assessment approved by the Government of Malawi in
January 2023. Malawi is known as "The Warm Heart of Africa", a
stable democracy with existing road, rail and power infrastructure,
and new infrastructure developments underway.
In parallel, Mkango and Grupa Azoty PULAWY, Poland's leading
chemical company and the second largest manufacturer of nitrogen
and compound fertilizers in the European Union, have agreed to work
together towards development of a rare earth Separation Plant at
Pulawy in Poland (the "Pulawy Separation Plant"). The Pulawy
Separation Plant will process the purified mixed rare earth
carbonate produced at Songwe Hill.
Through its 90% ownership of Maginito Limited ("Maginito") (
www.maginito.com ) , Mkango is also developing green technology
opportunities in the rare earths supply chain, encompassing
neodymium (NdFeB) magnet recycling as well as innovative rare earth
alloy, magnet, and separation technologies. Maginito has recently
announced that it is acquiring the shares of HyProMag Limited, a
company in the recycling business based in Birmingham, UK,
("HyProMag") that it doesn't already own.
Mkango also has an extensive exploration portfolio in Malawi,
including the Mchinji rutile exploration project, the Thambani
uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt
project.
For more information, please visit www.mkango.ca
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service, this inside information is now considered to
be in the public domain.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements (within
the meaning of that term under applicable securities laws) with
respect to Mkango. Generally, forward looking statements can be
identified by the use of words such as "plans", "expects" or "is
expected to", "scheduled", "estimates" "intends", "anticipates",
"believes", or variations of such words and phrases, or statements
that certain actions, events or results "can", "may", "could",
"would", "should", "might" or "will", occur or be achieved, or the
negative connotations thereof. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause
actual performance and results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
Such factors and risks include, without limiting the foregoing, the
availability of (or delays in obtaining) financing to develop
Songwe Hill, the recycling business of HyProMag and the Pulawy
Separation Plant, governmental action and other market effects on
global demand and pricing for the metals and associated downstream
products for which Mkango is exploring, researching and developing,
geological, technical and regulatory matters relating to the
development of Songwe Hill, the ability to scale the HPMS and
chemical recycling technologies of Maginito to commercial scale,
competitors having greater financial capability and effective
competing technologies in the recycling and separation business of
Maginito and Mkango, availability of scrap supplies for Maginito's
recycling activities, government regulation (including the impact
of environmental and other regulations) on and the economics in
relation to recycling and the development of the recycling plants
being developed by Maginito, the Pulawy Separation Plant and future
investments in the United States pursuant to the cooperation
agreement between Maginito and CoTec Holding Corp, the outcome and
timing of the completion of the feasibility studies, cost overruns,
complexities in building and operating the plants, and the positive
results of feasibility studies on the various proposed aspects of
Mkango's activities. The forward-looking statements contained in
this news release are made as of the date of this news release.
Except as required by law, the Company disclaims any intention and
assume no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law. Additionally,
the Company undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters
discussed above.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Kasia Brzozowska
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5
Tavistock Communications
PR/IR Adviser
Jos Simson, Cath Drummond
UK: +44 (0) 20 7920 3150
mkango@tavistock.co.uk
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any equity or other securities of
the Company in the United States. The securities of the Company
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") and may not be offered
or sold within the United States to, or for the account or benefit
of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.
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