Mkango Raises £12.5m to Drive European Rare Earth Growth

Mkango Resources ( (TSE:MKA) ) has issued an update.

Mkango Resources has closed a £12.5 million equity fundraise, issuing 37,878,788 new common shares at £0.33 each across a placing, LIFE offering, retail offer and subscription, with admission now effective on AIM and conditional approval secured for listing on the TSX Venture Exchange. The proceeds will support a potential acquisition in Germany, fund capital expenditure and feasibility studies at its UK and German recycling operations, and provide working capital, underlining the company’s push to scale its rare earth recycling and processing footprint across key European markets while navigating associated regulatory requirements, including a related-party transaction involving its interim CFO.

The fundraise saw multiple financial intermediaries, including Peel Hunt, H&P Advisory, Alternative Resource Capital, Red Cloud, JUB Capital and SP Angel, share in fees and commissions, reflecting broad capital markets engagement in the transaction. Canadian resale restrictions will apply to most of the newly issued shares except those sold under the LIFE exemption, signalling careful structuring to tap both UK and Canadian investor bases while supporting Mkango’s growth ambitions in strategic rare earth supply chains.

More about Mkango Resources

Mkango Resources is a dual-listed company on AIM and the TSX Venture Exchange, focused on the rare earths sector and the production of recycled rare earth magnets, alloys and oxides. Through its majority interest in Maginito, it owns stakes in HyProMag operations in the UK and Germany and Mkango Rare Earths UK, and is rolling out rare earth magnet recycling technology in the U.S., while also advancing the Songwe Hill project in Malawi and the Pulawy separation project in Poland, both designated EU Strategic Projects.

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