IN BRIEF: Mkango Magnetic Materials plans fundraise to scale-up works

Mkango Magnetic Materials Ltd - producer of recycled rare earth magnets, alloys and oxides in the UK, US and Germany, and miner of rare earths in Malawi - Shares are suspended from trading on AIM in London on Monday, as the company uses the exchange's capital access window rule to conduct an equity raise. Mkango shares also will be suspended from trading in Toronto on Monday. Mkango provides no details of the proposed fundraise but says the fresh cash will be use for capital expenditure to support the scale-up of its recycling and rare earth magnet manufacturing operations.

Late last month, Mkango said it agreed to buy the remaining 10% stake in HyProMag GmbH in Germany. The stake is bought for £1.1 million from Carlo Burkhardt, of which £757,900 is in Mkango shares issued at 29.5 pence per share and the rest in cash. HyProMag Germany is commissioning a rare earth magnet recycling and manufacturing plant in Pforzheim, a project selected to be strategic under the European Union Critical Raw Materials Act.

Current stock price: 35.00p

12-month change: down 26%

Copyright 2026 Alliance News Ltd. All Rights Reserved.