Canadian Mkango to develop 3D printed rare earth metal alloys
Mkango is partnering with Metalysis to develop 3D printed rare earth magnets for use on critical components of electric vehicles.
Mkango Resources Ltd., a Canadian mineral exploration and development company, has announced a partnership with British metals company Metalysis Ltd.
The two companies entered into a Memorandum Of Understanding to jointly research, develop and commercialise novel rare earth metal alloys for use in three-dimensional (3D) printed permanent magnets. Through this agreement, the companies acknowledge the importance of rare earth permanent magnets when it comes to the development of critical components of many electric vehicles.
The MOU will combine Mkango’s intelligence surrounding the performance characteristics and future global demand outlook for rare earth magnets with Metalysis’ disruptive, solid-state process, which can generate high margins from the manufacture of metal powders for markets including 3D printing.
“We are very pleased to collaborate with Metalysis. It is a core part of Mkango’s strategy to be at the forefront of research and technology in every step of the rare earths supply chain; positioning the Company as a future low cost, sustainable supplier of rare earths used in electric vehicles and other green technologies, which have entered a new phase of accelerating demand growth.”
Together, the companies are looking to develop a comprehensive research and development programme, culminating in the joint pursuit of commercial opportunities. The partnership will also look at evaluating United Kingdom as a potential location for a manufacturing plant to exploit a commercialised technology.
China dominates the rare earth permanent magnet industry, and with one of the few rare earths projects outside China to have advanced beyond the pre-feasibility stage, Mkango is well-placed to respond to the global demand outlook.
Mkango’s share of the first phase of R&D costs will be funded out of existing cash resources.