The announced projects will be able to benefit from coordinated support from the Commission, Member States, and financial institutions, particularly in terms of access to financing and assistance in connecting with appropriate customers. They will also benefit from simplified permitting procedures to provide project sponsors with predictability while maintaining standards in environmental protection, social policy, and corporate governance. More information about the European Commission's statement can be found at https://ec.europa.eu/commission/presscorner/detail/en/ip_25_864

At this stage, Mkango intends to complete a full feasibility study. The company assumes that the construction of the refinery will take 18 months in the years 2027-2028.

‘The strategic status of the rare earth metals refinery project confirms its importance in ensuring the supply of these metals throughout the European Union. We deeply believe that obtaining this status will provide our project with coordinated support from the Commission, Member States, and financial institutions, including access to the market,’ stated Dr. Jarosław Pączek, a board member of Mkango Polska sp. z o.o., and representative in Poland of Mkango Resources Ltd. (MKA:LSE).

‘Today's decision sends a clear signal from the European Commission that projects in the field of rare earth elements will play a significant role in ensuring the EU’s raw material security. “As Grupa Azoty, we want to have our share in this process, hence our cooperation with Mkango,’ points out Hubert Kamola, Vice President of the Board of Grupa Azoty S.A. and President of the Board of Grupa Azoty Puławy.

The agreement concluded in February concerns a plot of 8 hectares, adjacent to the Grupa Azoty Puławy complex, which provides excellent infrastructure, access to reagents, utilities, and covers a large area that allows for future development. The location within the Special Economic Zone ensures very good access to European and international markets.

Production at the plant will enhance the security of rare earth metal supplies in Europe, used in hybrid electric vehicles, wind turbines, and other eco-friendly technologies as well as strategic applications.

Mkango Resources Ltd’s corporate strategy aims to achieve a leading position in the market in the production of magnets, alloys, and oxides of rare earth metals derived from recycling through stakes in Maginito Limited (“Maginito”), of which Mkango holds 79.4% and CoTec Holdings Corp. (“CoTec”) holds 20.6%, as well as the development of new, sustainable sources of neodymium, praseodymium, dysprosium, and terbium to meet the growing demand associated with the development of electric vehicles, wind turbines, and other clean energy technologies. The planned rare earth elements refinery in Poland (Puławy) will process raw materials primarily sourced from a proposed mine in Malawi. As a result of processing the raw materials, the plant will produce, among others, neodymium oxides, praseodymium oxides, lanthanum, and cerium.