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Mkango gets $835,000 grant from South Africa Department of Trade and Industry

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"We would like to thank the South African DTI for their support, and look forward to working closely with them and to developing further synergies with the Republic of South Africa," said CEO William Dawes in the release.

Mkango Resources (CVE:MKA) has received approval from the South African Department of Trade and Industry for a C$835,000 grant (8 million rand), which will be dispersed to the company between June and March of next year. 

The company, which is developing the Songwe Hill rare earth project in southeast Malawi, will use the funds as it works to meet certain milestones including environmental and social impact studies, mine planning, design of the processing plant and tailings storage facility as well as hydrometallurgical studies.

Mkango told investors Monday that Digby Wells Environmental has already completed an environmental and social pre-feasibility report, and is now beginning work for the feasibility study. Meanwhile, SNC Lavalin has finished the first phase of the prefeasibility study work for the plant, and is now focused on the hydrometallurgical process. 

"We would like to thank the South African DTI for their support, and look forward to working closely with them and to developing further synergies with the Republic of South Africa," said CEO William Dawes in the release.

"We are very pleased to qualify for this significant funding which, in addition to our recent $2.3m fund raising, provides a solid platform to advance the project towards the development phase."

At a cutoff grade of 1% total rare earth oxides (TREO), the Songwe Hill rare earth project is estimated to contain 13.2 million tonnes of indicated resources grading 1.62% TREO, and 18.6 million tonnes of inferred resources grading 1.38% TREO.
The project is accessible by road from Zomba, the former capital of Malawi, and Blantyre, the principal commercial town. The company said the total travel time from Blantyre is approximately 2 hours, which will reduce as infrastructure continues to be upgraded in the area. 

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