Mkango Resources Ltd

Identifiers

Operating jurisdiction

Malawi (Songwe Hill); UK and US (HyProMag magnet recycling); Poland (Pulawy separation)

Sector classification

Songwe Hill REE mine (Malawi) is the largest project-capex asset and dominant share of EV (DFS post-tax NPV $339M, IRR 24%, 18-year mine life, producing 1,953 tpa NdPr + 56 tpa DyTb). HyProMag magnet recycling: first commercial NdFeB alloy powder sales in FY25 with revenue to be reported in year-end results — initial plant capacity 100 tpa scaling to 350-750 tpa. Pulawy separation pre-construction. Songwe Hill dominates EV; HyProMag and Pulawy are smaller current-EV assets. Sector borderline within 5pp between Exploration Stage and Recycling & Urban Mining; assigned Exploration Stage per public-facing identity and largest-project-capex (Songwe Hill development).

Activity screen

Multi-asset REE company. Songwe Hill NI 43-101 DFS filed alongside FY25 financial statements. HyProMag (79.4% via Maginito) initiated first commercial NdFeB alloy powder sales in FY25; expansion to 350-750 tpa under evaluation. Pulawy is planned light REE separation in Poland. Most-liquid listing is MKA.L (AIM, ADTV ~$1.05M); MKA.V (TSXV) is secondary and fails TSXV liquidity floor (ADTV ~$53K) independently — eligibility achieved via AIM.

Primary REE elements

Nd, Pr, Dy, Tb (Songwe Hill carbonatite + HyProMag NdFeB recycling)

Liquidity

Trailing windows ending at the April 30, 2026 calculation date (methodology §4.3).

Sources

https://mkango.ca/ · AIM RNS 2025-2026

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