Mkango Resources Ltd (UK) (GB:MKA) has released an update.
Mkango Resources Ltd has released its year-end 2023 financial results, highlighting the acquisition of HyProMag Ltd and advancements in rare earth magnet recycling. The company has made significant progress in commercializing a sustainable and energy-efficient process for recycling rare earth magnets, with production runs in the UK and planned expansions into the US and Germany. Despite a net loss for the year, Mkango is focused on scaling up its recycling operations and optimizing costs for its Songwe Hill Rare Earth Project amidst a challenging market.
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