Canada mkango receives new investment to further develop rare earth technology

On May 30, 2022, Canada's mkango rare earth company announced that it had signed a cooperation agreement with cotec. The specific content is that cotec has invested 2million pounds (3.2 million Canadian dollars) in mkango and 1.5 million pounds (2.4 million Canadian dollars) in its subsidiary maginto, both of which are used to develop rare earth technologies.

Maginto focuses on the development of rare earth energy-saving technologies, including the recovery of neodymium, iron and boron, as well as low-energy rare earth alloys, permanent magnets and separation technologies. Maginto holds 42% of the equity of hypromag, a British rare earth magnet recycler. Its development strategy is to establish a neodymium iron boron recycling plant in tyseley energy Park ("tyseley energy saving industrial park") in Birmingham, UK.

Mkango and grupa azoty Pulawy (Poland's leading chemical company and the second largest manufacturer of nitrogen fertilizer and compound fertilizer in the EU) have also reached a cooperation agreement to develop and build a rare earth separation plant in Poland ("Plavix separation plant"), which will separate the mixed rare earth carbonate produced by mkango Songwei mountain rare earth mine.