Mkango subsidiary buys into UK magnet recycling firm HyProMag | Sharecast.com

Mkango subsidiary buys into UK magnet recycling firm HyProMag | 

 Mkango Resources announced on Friday that its subsidiary Maginito has completed the acquisition of an initial 25% interest in HyProMag - a private, UK-based company focussed on rare earth magnet recycling, as it initially announced on 23 September.

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The AIM-traded firm said Maginito invested an initial �0.3m for a 25% interest in HyProMag, and had an option to invest a further �1m to increase its interest up to 49%.

Chinese miner puts chiefs on payroll | Malawi 24 - Malawi news

Chinese miner puts chiefs on payroll | Malawi 24 - Malawi news: HOME
BUSINESS
Chinese miner puts chiefs on payroll
Chinese miner puts chiefs on payroll
Jan 03, 2020 Richard Jimu Business 0

A Chinese mining firm in Chitipa pays 21 chiefs in the district a monthly ‘allowance’ despite locals accusing the company of failing to implement corporate social responsibility programmes.

Center for Investigative Journalism in Malawi (CIJM) reported that Ilomba Mining Company which mines gemstone gives K20,000 to each of 21 chiefs under Traditional Authority Mwawulambya

Lotus gets approval for Kayelekera buy

Lotus gets approval for Kayelekera buy: RTH (miningweekly.com) – Malawi’s Minister for Natural Resources, Energy and Mining has given ASX-listed Paladin Energy consent to divest of its 85% stake in the Kayelekera uranium project.

Paladin in June struck an agreement with Lotus, a subsidiary of Hylea Metals, to divest of 65% its interest in the project for A$5-million, made up of A$200 000 in cash and A$4.8-million worth of Hylea shares. Paladin will also receive a 3.5% royalty on revenues derived from future production at Kayelekera, capped at A$5-million.

Sovereign Metals (ASX:SVM) to drill for rutile targets - The Market Herald

Sovereign Metals (ASX:SVM) to drill for rutile targets - The Market Herald: Sovereign Metals (SVM) has commenced an air-core drilling program which will test at least three prospects in Malawi.

A total of 45 holes for approximately 1000 metres is planned across three targets to test the extent and tenor of rutile mineralisation at depth.

Sovereign Metals finds high-grade rutile at Malawi - The Market Herald

Sovereign Metals finds high-grade rutile at Malawi - The Market Herald: Sovereign Metals has identified a potentially substantial zone of shallow, high-grade rutile mineralisation at the Railroad Prospect.

Results from the prospect include 6 metres at 1.25 per cent rutile, 5 metres at 1.16 per cent rutile, and 13 metres at 1.08 per cent rutile.

These results confirm that Sovereign's ground holding in Malawi has the potential to host a new, globally significant rutile province.

"The first quantitive results from our drilling program show a significant zone of rutile mineralisation at Railroad," Managing Director Dr Julian Stephens commented.

Paladin deal nears closure amid market uncertainty – The Nation Online

Paladin deal nears closure amid market uncertainty – The Nation Online: Dual-listed Paladin Energy Limited, operators of Kayelekera Uranium Mine in Karonga, says it expects to complete outstanding approvals for the sale of the company’s 85 percent stake.

In its September Quarterly Report, the miner said it has now received noteholder consent for the sale and the transaction has been approved by Lotus shareholders with the key outstanding approval remaining from the Malawi Government, which owns 15 percent stake

Whatever happened to Kanyika Niobium Project?

Last year Global Metals mining licence in Kanyika was renewed..

In January 2019 there was the report that Globe Metals had finalised the  Kanyika Niobium Project feasibility study revision and was waiting for changes to the mining law and approval of its development plan Read here

According to the most recent company's quarterly, June report Read hear; the company is still waiting for feedback and the approval of its development plan.

How come it takes such a long time for the government to respond?

Hylea acquisition provides leverage to next uranium cycle

Hylea acquisition provides leverage to next uranium cycle: Hylea Metals Ltd (ASX:HCO) has come a long way in the last three months, having changed direction with the acquisition of a 65% stake in a high-grade uranium project in Africa.

This mine has an established resource and has previously delivered strong production.

It would appear that the investment community has realised the potential of this asset with Sachem Cove Specialty Opportunities Fund LP emerging as a substantial holder on Monday with a stake of 5.15%.

Nine countries join U.S. strategic minerals initiative | Financial Post

Nine countries join U.S. strategic minerals initiative | Financial Post: Nine countries join U.S. strategic minerals initiative

Reuters
September 26, 2019
The United States on Thursday said nine countries have joined its initiative to help discover and develop reserves of minerals used to make electric vehicles, part of an effort to cut the world’s reliance on China for the high-tech materials.

Secretary of State Mike Pompeo on Thursday met with foreign ministers from the nine countries on the sidelines of the United Nations General Assembly in New York.

Paladin remains optimistic about uranium market potential

Paladin remains optimistic about uranium market potential: JOHANNESBURG (miningweekly.com) – ASX-listed uranium miner Paladin Energy’s two mines in Namibia and Malawi remain under care and maintenance to preserve resource and shareholder value in the current low uranium price environment; however, the company is positive that uranium demand will pick up in the near future.

Mkango Resources Appoints SENET As Songwe Hill... | Morningstar

Mkango Resources Appoints SENET As Songwe Hill... | Morningstar: NewsMkango Resources Appoints SENET As Songwe Hill Project Manager(Alliance News) - Rare earths development company Mkango Resources Ltd said Monday it has ...
Alliance News9 September, 2019 | 12:56PM
(Alliance News) - Rare earths development company Mkango Resources Ltd said Monday it has appointed SENET as lead engineer and project manager for completing the feasibility study for the Songwe Hill project in Malawi.

SENET is a project management and engineering firm, which is part of diversified engineering, project delivery group DRA Global.

SENET's appointment is said to be another key milestone for completing the feasibility study and developing the project.

Perth’s Force To Let Key Contracts This Month For New Open-Pit Lead-Silver Mine In Malawi

Perth’s Force To Let Key Contracts This Month For New Open-Pit Lead-Silver Mine In Malawi: APerth company which has already pre-sold to a major Swiss global trading house its entire high grade lead-silver entitlement from a mine yet to be built in Africa, says it expects to finalise the key exploration, mining and beneficiation contracts for the mine by the end of this month.

Speaking on the third and final day of the Paydirt 2019 Africa Downunder mining conference in Perth, Force Commodities Managing Director, Mr Jason Brewer, said the key project milestones would also coincide with a start to a new onsite drill program at the Company’s 51%-owned 1,400km� Tshimpala base metals project in Malaw

Mkango Resources Continues Work On Malawi Projects | Morningstar

Mkango Resources Continues Work On Malawi Projects | Morningstar: Mkango Resources Continues Work On Malawi Projects (Alliance News) - Mkango Resources Ltd said Monday it has made progress over the Songwe Hill rare ...
Alliance News19 August, 2019 | 10:18AM
(Alliance News) - Mkango Resources Ltd said Monday it has made progress over the Songwe Hill rare earths project and Thambani uranium-tantalum-niobium project, both located in Malawi.

Force Commodities Locks Down Lead-Silver Offtake for Tshimpala | INN

Force Commodities Locks Down Lead-Silver Offtake for Tshimpala | INN: Force Commodities (ASX:4CE) has entered a binding offtake agreement for all high-grade lead and silver ore produced at the Tshimpala project in the Republic of Malawi.

The deal, held with Swiss global commodities trading group Transamine Trading, gives Transamine the right to purchase the aforementioned products from Tshimpala on an “evergreen” basis. It is unknown at this time how long the agreement is set to last, though Force refers to it as a “multi-year contract.”

Sovereign Metals Ltd produces ultra-high ‘5-Nines’ purity graphite from Malawi project

Sovereign Metals Ltd produces ultra-high ‘5-Nines’ purity graphite from Malawi project: Sovereign Metals Ltd (ASX:SVM) has produced some of the highest purity graphite in the world, using a loss on ignition process to assess the suitability of mine gate graphite concentrates from its Malingunde project in Malawi.

The achieved purity highlights the potential for Sovereign to enter the lithium-ion battery sector as well as high-tech and speciality markets, including the nuclear sector.

Trump may just have saved Malawi uranium Industry

Uranium demand is the big winner as US President rejects import cap - Stockhead: US President Donald Trump has rejected a cap on uranium imports, bringing the long-running (and very disruptive) Section 232 investigation to a close for now.

The investigation was sparked by two domestic companies calling for limits on the amount of uranium that US nuclear plants sourced from overseas, citing national security concerns.

The US currently imports about 93 per cent of its commercial uranium, compared to 85.8 per cent in 2009.

Our Comment on the New Kayelekera deal

The sale by Paladin of Kayelekera to Hylea Metals may be good news for the mining industry in Malawi. Paladin hasn’t given any impression it has plans for Kayelekera other than waiting for prices of uranium to hit US$60. It is now around US$24, an improvement over the rock bottom prices following the Japanese nuclear power plant disaster.  Paladin’s focus has been on restarting its flagship Langer Heinrich uranium asset in Namibia. Selling Kayelekera, will,  according to Paladin CEO Scott Sullivan, release cash resources which will allow the company to concentrate on Langer Heinrich.

Hylea Managing Director Simon Andrew said the acquisition was an "excellent" opportunity for the company: “Kayelekera is a world-class uranium asset … and represents an opportunity to use the past production information to re-engineer certain mining and processing processes to reduce the overall Capex and Opex of the operations," he said. "We are optimistic about the global uranium market and the outlook for firmer pricing.

We have heard from Hylea and Paladin but virtually nothing from the government. The government should use this opportunity to renegotiate the deal, especially around royalties and tax holidays.

What Kayelekera needs now is to lower its unit costs which make mining profitable only at US60 when other operators are profitable at $40, Some of the costs can be reduced by connecting the mine to the national electricity grid. However,  some of the costs have to do with a strange model used by Paladin to rely on very expensive expatriates who were flown up and down from Namibia.. In the new negotiation with the government, the government should insist that its support on infrastructure will be contingent on a serious programme of training local and recruiting and training local engineers.

Other questions need to answer. For what will Paladin be receiving a 3.5 per cent royalty? It does not own the “land”. Moreover, Paladin had argued against such royalty would make the mining unprofitable. The royalty should go to the Malawi government.

Mkango to Commence Exploration on 100% Owned Thambani Uranium Licence Following Termination of Agreement With MetalNRG TSX Venture Exchange:MKA

Mkango to Commence Exploration on 100% Owned Thambani Uranium Licence Following Termination of Agreement With MetalNRG TSX Venture Exchange:MKA: LONDON and VANCOUVER, British Columbia, June 28, 2019 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango"), announces that the Company and MetalNRG plc (“MetalNRG”) have agreed to terminate their Non-Binding Heads of Terms Agreement announced on April 29, 2019, which set out their intention to enter into an earn-in agreement for Mkango’s Thambani Licence (“Thambani”). The parties were to have entered into the Transaction Agreement on or before 30th June 2019.

Following the inflow of �1.1 million from the recent warrant exercise, Mkango has decided to commence a further exploration programme at Thambani in 2019, therefore retaining 100% of the Thambani exploration exclusive prospecting licence, which features multiple zones of high-grade uranium, tantalum and niobium, with a number of extensive uranium radiometric anomalies. In parallel, Mkango will continue to evaluate partnership opportunities for the project.

Further updates will be provided on Thambani in due course.

The feasibility study for the Songwe Hill Rare Earths project continues in parallel, fully funded by strategic partner, Talaxis Limited, a subsidiary of Noble Group.

Hylea Metals to scoop up Kayelekera uranium project from Paladin Energy

Hylea Metals to scoop up Kayelekera uranium project from Paladin Energy: Cobalt explorer Hylea Metals (ASX: HCO) could potentially own 85% of the Kayelekera uranium project in Malawi after entering an agreement to initially purchase 65% of the asset from Paladin Energy (ASX: PDN).

The Government of Malawi holds a 15% equity in the project, with Hylea’s joint venture partner Chichewa possessing 20%.

Under a separate deal, Hylea has the option to acquire Chichewa’s stake in the project, which would effectively give Hylea 85% of the asset

Paladin offloads majority stake in Kayelekera uranium mine to Lotus - Australian Mining

Paladin offloads majority stake in Kayelekera uranium mine to Lotus - Australian Mining: Paladin offloads majority stake in Kayelekera uranium mine to Lotus
June 24, 2019News Alex Gluyas

The stake in Kayelekera will be sold for $5 million, comprising $200,000 in cash and $4.8 million in Hylea shares to be issued to Paladin.