- Mining group Mkango Resources said HyProMag, of which it owned 25%, and partners European Metal Recycling and the University of Birmingham had won a government grant for a rare earths minerals recycling project.

The grant had been awarded by the Industrial Strategy Challenge Fund, delivered by UK Research and Innovation.

Mkango Resources said the project would investigate ways of recycling rare earth magnets from speakers used in automotive and consumer electronics application.

Mkango's subsidiary, Maginito, held a 25% equity interest in HyProMag, with an option to increase its interest up to 49%.

'Rare earth magnet recycling from end-of-life components represents a significant market opportunity and will become an increasingly important part of the rare earth supply chain in the UK, Europe and elsewhere,' chief executive William Dawes said.

At 10:30am: [LON:MKA] Mkango Resources Ltd Cmn Shs Npv Di share price was 0p at 9.75p

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