Modern Mining November 2023

MINING News

Resources development company Mkango Resources has announced that CoTec and Maginito have entered into a binding let ter agreement in which they have agreed a 50:50 joint venture for a United States roll out of HyProMag’s rare earth magnet Mkango subsidiary, Maginito, and CoTec for US joint venture recycling technology. HyProMag’s tech nology will be sub-licenced to the new Joint Venture company, HyProMag US, on formation. Julian Treger, CoTec CEO commented: “This is a major step forward for CoTec

and Mkango/Maginito and we are look ing forward to working with the Mkango and HyProMag teams on this very exciting, proven and much needed technology in the US targeting the long-term supply of low cost, sustainable recycled rare earth magnets.” The US presents a significant opportu nity for the HyProMag technology and the technical skills of Mkango and HyProMag combined with CoTec’s commercial strength could potentially, in the right jurisdiction at the right time, provide shareholders with a unique and robust value proposition in the rare earth industry. 

Vedanta appoints Chris Griffith as CEO for Base Metals Diversified global natural resources com pany, Vedanta Resources, has appointed Chris Griffith, former CEO of Gold Fields, one of the world’s largest gold produc ers, as the Chief Executive Officer for Base Metals and President of its International Businesses, effective on 2 October 2023. He leads the Group’s international zinc busi ness in South Africa and Namibia, its iron ore business in Liberia, and the entire copper portfolio including KCM, Zambia, Fujairah, UAE and Sterlite Copper in India. Before Gold Fields, Chris served as the CEO of two major businesses at global mining major Anglo American – Anglo American Platinum (Amplats) and Kumba Iron Ore. In his new role as CEO for Base Metals, Griffith’s assumes responsibil ity for steering both the Vedanta Zinc International and Vedanta Copper businesses, including operations at Konkola

Copper Mines in Zambia, as well as oversight for the downstream processing businesses of the Company across India and the Middle East. As President International, Griffith will be part of the broader strategic leadership for the company and will provide guidance for Vedanta’s operations outside India, including the iron ore business in Liberia. 

An image of Mkango’s 50-100 kg pilot HPMS reactor.

6  MODERN MINING  November 2023