HyProMag to Participate in Innovative Project to Develop the UK’s First Circular Supply Chain for Wind Turbine Rare Earth Magnets

Provided By GlobeNewswire

Last update: Sep 12, 2023

HIGHLIGHTS:

LONDON and VANCOUVER, British Columbia, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that HyProMag Limited (“HyProMag”) is collaborating with EMR, the Offshore Renewable Energy (ORE) Catapult, Magnomatics and University of Birmingham in a £1.5 million project, Re-RE Wind (“Re-RE Wind” or the “Project”), of which £1.0 million or 67% will be funded by Innovate UK’s circular critical materials supply chains (CLIMATES) programme. The budget for HyProMag’s portion of the Project is circa £350,000 of which 70% will be funded by the grant. The grant is subject to signature of a collaboration agreement between the parties.