Global Rare Earths Leader Emerges from AIM
Rare earth elements aren’t actually rare in the Earth’s crust, but finding them in concentrated, extractable deposits is another matter. This scarcity of viable sources makes them costly and environmentally complex to produce.
As we move deeper into the AI age, rare earths are becoming increasingly strategic. Data centres and advanced computing systems depend on rare earth materials for efficient cooling and high-performance components.
However, the global supply chain is highly imbalanced: China controls over 80% of rare earth processing, giving it substantial geopolitical clout.
It’s in this context that a new international rare earths champion has emerged from AIM, though it’s unlikely to remain on the junior market for long.
Importantly, Mkango will retain its AIM listing, while its Malawian and Polish assets will form the core of the new Nasdaq-listed entity. Mkango is expected to hold a substantial majority stake—80%—in the new company prior to any warrant exercises.
Mkango, which focuses on recycling rather than mining rare earth elements, saw its shares jump 100 per cent this week after announcing a merger to form a dedicated global rare earths company.
The deal will combine Mkango’s Songwe Hill project in Malawi with the Pulawy separation facility in Poland, forming a vertically integrated rare earths operation capable of mining, refining, and separating critical materials for global supply chains across North America, Europe, and Asia.
The new entity, to be named Mkango Rare Earths Limited, is set to list on the Nasdaq stock exchange. Mkango’s pro forma valuation of its stake in the combined business stands at $400 million.
Both Songwe Hill and Pulawy have been designated as strategic assets under the EU Critical Raw Materials Act, unlocking regulatory support and potential access to EU-level funding. In addition, Songwe Hill has secured backing from the Minerals Security Partnership, reflecting growing international confidence in its strategic value.
The Songwe Hill project is significantly de-risked, having already completed advanced feasibility studies and environmental assessments—positioning it well for accelerated development.
Commenting on the deal, Alexander Lemon, President of Mkango, said:
“We are excited to announce the signing of a transformative Business Combination Agreement with CPTK, which I believe marks a pivotal step towards unlocking substantial shareholder value.”
“This transaction is expected to significantly accelerate the Mkango Group’s growth trajectory and position us as a key player in the global rare earth supply chain, with a strong focus on sustainability and meeting critical industry demand.”
“Partnering with CPTK, an organisation that shares our strategic vision and values, strengthens our platform for scalable growth and innovation. As we move towards a Nasdaq listing, we believe this combination will open new opportunities, expand our investor base, and drive long-term value creation.”
For further information on Mkango, please contact:
Mkango Resources Limited
Alexander Lemon William Dawes
President Chief Executive Officer
UK: +44 20 7372 2744
