TIDMMKA
RNS Number : 1632T
Mkango Resources Limited
13 November 2023
MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
13 November 2023
MKANGO RESOURCES LIMITED RELEASES FIRST ENVIRONMENTAL SOCIAL
GOVERNANCE REPORT
London/Vancouver: November 13 -- Mkango Resources Ltd
(AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce
that it has published its inaugural Environmental, Social &
Governance ("ESG") Report for the year 2022. This report has been
prepared, to the extent applicable for the current phase of
operations, in accordance with the Global Reporting Initiative
Standards ("GRI") 'Core' option and is accompanied by a wider set
of disclosures on Mkango's sustainability performance.
2022 ESG highlights include:
Ø IFC compliant ESHIA completed and approved by Malawian
Environmental Protection Agency (MEPA)
Ø In depth stakeholder engagement completed for ESHIA safely
despite Covid-19
Ø Streamlined business structure further enabling Mine, Refine
and Recycle Strategy
Ø CSR spend to date of US$406,000 from inception to 31 December
2022
The disclosure standards and frameworks, including the United
Nations Global Compact, Sustainability Accounting Standards, Board
Metals and Mining Sustainability Accounting Standard, and the
Mining Local Procurement Reporting Mechanism, continue to inform
and guide Mkango's sustainable transition from an explorer to a
developer and demonstrates the Company's commitment to transparent
business conduct and its work to manage potential social and
environmental impacts. Please follow this link to the ESG report on
the Company's website
https://mkango.ca/site/assets/files/4152/mkango_esg_report_web12-11-23.pdf
Alexander Lemon, Mkango President, commented: "I am delighted to
publish our inaugural ESG Report. As countries around the world
move towards climate-smart economies, there is growing recognition
of the importance of the natural and social environment within
global society. As we develop the Songwe Hill rare earth project,
we are meeting the challenge of managing these precious shared
resources, including water, biodiversity, land and air, and in the
future will be producing rare earth minerals that are vital to the
world's low-carbon transformation. The sustainable development of
Songwe Hill in Malawi is an example of where we can make a
meaningful contribution to the economic, social and sustainable
development of an emerging economy and its people. Mkango is
committed to creating lasting value for future generations. We are
building a business that is designed to create value for all
stakeholders for many years to come."
On Friday 10(th) November, Hon. Monica Chang'anamuno Minister of
Mines for Malawi and a large government delegation visited the
Songwe Hill rare earth project. The Hon. Minister was impressed
with all of the work that had been completed at the project site to
date and indicated that the Ministry of Mines would sign the mining
development agreement before the end of 2023.
For further information, please contact:
Mkango Resources Limited Canada: +1 403 444
William Dawes 5979
Chief Executive Officer
will@mkango.ca
Alexander Lemon
President
alex@mkango.ca
Robert Sewell
Chief Financial Officer
rob@mkango.ca
www.mkango.ca
@MkangoResources
Tavistock UK: +44 (0) 20 7920
PR and IR Adviser 3150
Jos Simson, Cath Drummond, Adam
Baynes
mkango@tavistock.co.uk
SP Angel Corporate Finance LLP UK: +44 20 3470 0470
Nominated Adviser and Joint Broker
Jeff Keating, Kasia Brzozowska
Alternative Resource Capital UK: +44 20 7186 9004/5
Joint Broker
Alex Wood, Keith Dowsing
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 AIM and the TSX-V.
Mkango is developing its Songwe Hill rare earths project
("Songwe Hill") in Malawi with a 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 79.4% 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.
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
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, governmental action and other market effects on global
demand and pricing for the metals Mkango is exploring and
developing, and geological, technical and regulatory matters
relating to the development of Songwe Hill, the Thambani Licences,
the plants being developed by Maginito and the Pulawy Separation
Plant, 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.
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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END
MSCNKBBPKBDBPDD
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