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(Sharecast News) - Mineral exploration and development company Mkango Resources' Polish subsidiary has inked a revised land lease agreement with Grupa Azoty Pulawy for the construction of a strategic rare earths separation plant in Poland.
Mkango said on Monday that the agreement constituted a continuation of cooperation that the parties first started in 2021 and was for a large eight-hectare site adjacent to Grupa Azoty Pulawy's fertiliser and chemicals complex at Pulawy.
The AIM-listed group highlighted that the site provides "excellent infrastructure", access to reagents and utilities and covers a "substantial area" which enables future expansion potential.
Located within a Polish Special Economic Zone, the site also provides "excellent access" to European and international markets.
Mkango president Alexander Lemon said: "We are delighted to have signed a revised exclusive land lease agreement adjacent to the Grupa Azoty Pulawy which will enable future separation plant expansion. We very much value working closely with Grupa Azoty and look forward to completing a definitive feasibility study on the rare earth separation plant and starting construction."
As of 0925 GMT, Mkango shares were down 1.58% at 11.20p.
Reporting by Iain Gilbert at Sharecast.com
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