11 Mar Mkango Resources to receive financing support from ERMA for Poland rare earths plant
Canadian minerals developer Mkango Resources has received a commitment from the European Raw Materials Alliance (ERMA) to help finance a rare earth separation plant in Poland.
The intervention from ERMA will help Mkango secure financing for the plant, which will be supplied with rare earth carbonate from the company’s Songwe Hill primary deposit of rare earth elements in Malawi.
The plant, located in the Polish city of Puławy, will also be able to process other materials supplied by third-party providers, thus acting as a future European Hub for rare earth elements separation.
The Puławy project will help the EU in its quest to build a secure supply chain for rare earth elements, which are critical in the production of electric vehicles, wind turbines and other clean energy applications that are key to Europe’s Green Agenda. Examples include neodymium, praseodymium, dysprosium and terbium.
“ERMA’s support has been and continues to be important for us, and we are happy to be part of its vast network of leading companies in the raw materials sector,” said Mkango CEO William Dawes.
“ERMA’s underlying principles are a great fit with the Mkango’s vision and philosophy for the Puławy separation plant and Songwe Hill deposit in Malawi,” he continued.