Mkango Resources Limited has filed a registration statement to the US Securities Exchange Commission (SEC) in a move towards listing its Songwe Hill Rare Earth Project.
The move comes a year after the Toronto Stock Exchange-listed firm announced its intention to list the project under its subsidiary Lancaster Exploration Limited through a business combination with Mkango Polska and Crown PropTech Acquisitions, a Cayman Islands exempted company.
The combined business, Mkango Rare Earth Limited, is expected to be listed on Nasdaq to ease access to funding for the development of the Songwe Hill project.
In an update published on its website www.mkango.ca, the firm confirmed that Mkango Rare Earth Limited filed its registration statement with the SEC on May 202026.
interest. | Courtesy of Mkango Resources
Reads the update in part: “The form includes a proxy statement for the meeting of Crown PropTech Acquisitions shareholders and a prospectus relating to Mkango Rare Earth Limited’s common shares and warrants.
“Mkango Rare Earth Limited’s common shares and warrants are expected to be listed on the Nasdaq Stock Market, upon the closing of the transaction.”
The filing marks a key milestone towards completion of the business combination, subject to SEC review and customary closing conditions, including approval by CPTK shareholders.
Mkango chief executive William Dawes is quoted in the update as having said the company would retain a majority interest in the Nasdaq listed entity.
“This transaction will create a vertically integrated global pure play rare earths platform. The listed entity will hold Mkango’s rare earth project at Songwe Hill in Malawi and a proposed separation plant in Pulawy, Poland,” he said.
Mining experts have welcomed the development, saying it will provide exposure and improve access to financing.
In an interview on Sunday, Malawi Chamber of Mines and Energy national coordinator Grain Malunga said: “This will give it exposure to the market and financial resource mobilisation for the development of the project.”
Geoscience expert Ignatius Kamwanje on Sunday added that Nasdaq’s reputation would enhance the firm’s visibility.
“Nasdaq being a well known and trusted exchange worldwide, Mkango will benefit in investor exposure and visibility,” he said.
Mkango, through Lancaster Exploration, signed a Mining Development Agreement with the Malawi Government for Songwe Hill in July 2024.
Nasdaq, the world’s leading electronic exchange, operates across 29 markets in the US and Europe.
