CALGARY, AB--(Marketwired - Mar 20, 2017) - Mkango Resources Ltd. (TSX VENTURE: MKA) (AIM: MKA)
TSXV / AIM: MKA
MKANGO RESOURCES LTD.
706 27 Avenue NW,
Calgary, Alberta T2M 2J3
MKANGO ANNOUNCES R&D PROGRAMME WITH METALYSIS TO DEVELOP 3D PRINTED RARE EARTH MAGNETS FOR ELECTRIC VEHICLES
Calgary, Alberta: March 20, 2017 - Mkango Resources Ltd. (TSXV / AIM: MKA) (the "Company" or "Mkango") is pleased to announce that it has entered into a Memorandum Of Understanding ("MOU") with Metalysis Limited ("Metalysis") to jointly research, develop and commercialise novel rare earth metal alloys for use in three-dimensional (3D) printed permanent magnets.
The MOU will combine Mkango's intelligence surrounding the performance characteristics and future global demand outlook for rare earth magnets with Metalysis' disruptive, solid-state process, which can generate high margins from the manufacture of metal powders for markets including 3D printing. Together, the parties envisage a comprehensive research and development ("R&D") programme, culminating in the joint pursuit of commercial opportunities. One such opportunity includes evaluating the United Kingdom as a future host country for a manufacturing plant to exploit a commercialised technology.
Rare earth permanent magnets are a critical component of many electric vehicles, as well as other consumer and green technologies. China dominates the rare earth permanent magnet industry, and with one of the few rare earths projects outside China to have advanced beyond the pre-feasibility stage, Mkango is well-placed to respond to the global demand outlook.
Mkango's share of the first phase of R&D costs will be funded out of existing cash resources.
William Dawes, Chief Executive Officer of Mkango, said:
"We are very pleased to collaborate with Metalysis. It is a core part of Mkango's strategy to be at the forefront of research and technology in every step of the rare earths supply chain; positioning the Company as a future low cost, sustainable supplier of rare earths used in electric vehicles and other green technologies, which have entered a new phase of accelerating demand growth. The R&D programme will seek to enhance marketing flexibility, increase future margins and affirm the Company's competitive positioning."
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