MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
BC V6C 0A3
HYPROMAG GMBH TO PARTICIPATE IN GROUNDBREAKING €8 MILLION GRANT FUNDED PROJECT: RE-ENGINEERING PERMANENT MAGNETS FOR THE GREEN TRANSITION (GREENE)
Highlights
· HyProMag GmbH is participating in the
· GREENE aims to push the boundaries of material science by re-engineering rare earth permanent magnets to become more resource-efficient, whilst offering significant improvements to magnetic performance
· As part of the Project, HyProMag GmbH will receive
The GREENE Project
Rare-earth element (REE) permanent magnets based on Neodymium Iron Boron (Nd-Fe-B) are vital components of high-tech products enabling a green energy future. They are highly valued due to their outstanding properties. They are complex materials consisting of multiple phases and their overall performance is determined by a high remanence, reflected in magnet strength, and a high intrinsic coercivity, making them resistant to demagnetization. Their maximum energy product is thus composed of both remanence and coercivity.
The need to operate at temperatures over 100 °C in applications such as traction motors in electric vehicles means that a high coercivity is usually prioritised over a high remanence, which negatively affects power output linked to remanence. In conventionally sintered magnets, NdFeB grains are microscopic and the regions between the grains are called grain boundaries. When exposed to a demagnetizing force, demagnetization begins at the grain interfaces with the grain-boundary phase before rapidly spreading, influencing the magnet's coercivity.
GREENE partners aim to push the boundaries of material science by developing Single-Grain Re-Engineered Nd- Fe-B permanent magnets with a new grain-boundary interface, thus allowing for a reduction of REE content. The new GREENE magnets are expected to be more resource-efficient, offering a roughly 20% increase in coercivity, 10% in remanence, and 20% in overall maximum energy product.
As a first step, novel grain boundaries and interfaces will be created using micromagnetic simulations and computational thermodynamics. Following an initial testing phase, the technology will then be applied to isolated grains from recycled and fresh streams with the intention of developing a new form of Nd-Fe-B magnet. By the end of the project, the magnet manufacturing system is intended to be set up in an actual operational setting.
To achieve this ambitious undertaking, 15 European partners with outstanding expertise in their respective fields have joined forces, including leading material scientists, magnet manufacturers and recyclers, lifecycle analysis experts as well as end user representatives. Several of them have already cooperated in predecessor projects like SUSMAGPRO, INSPIRES and REEsilience. The project is coordinated by the Slovenian Jožef Stefan Institute.
About Mkango Resources Ltd.
Mkango is listed on the AIM and the TSX-V. Mkango's corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Limited, which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.
Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct and indirect interest (assuming conversion of Maginito's convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the
Maginito and CoTec are also rolling out HyProMag's recycling technology into
Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt exploration portfolio in
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 "targeted", "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 success of the Project to achieve its aims and the commercial application of the results, the availability of (or delays in obtaining) financing to develop the various recycling plants in the
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
www.mkango.ca
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
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
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.