Metalysis magnet research project moves to second phase
Rotherham-headquartered specialist metals technology company Metalysis has entered the second phase of its partnership with a Canadian company exploring the use of novel rare earth metal alloys in 3D printed permanent magnets.
In March, Metalysis, which is based within South Yorkshire’s Advanced Manufacturing Park Innovation District, signed a memorandum of understanding with Mkango Resources to combine the AIM-listed mineral exploration and development company's resources.
The combined intelligence of the two companies was used to research the performance characteristics and future global demand outlook for rare earth magnets.
Ahead of the partnership, the two companies developed a comprehensive research and development programme, which would eventually culminate in the joint pursuit of commercial opportunities.
Will Dawes, chief executive of Mkango, said: "Mkango is now uniquely positioned in the rare earths sector and these very promising developments provide a strong platform for moving into Phase II R&D.
"Our collaboration with Metalysis enhances our ability to meet supply chain requirements for accelerating growth in the electric vehicle market, amongst other applications.
"This programme is underpinned by our advanced stage Songwe Hill rare earths project in Malawi, where Mkango is spearheading the sustainable development of rare earths for the emerging, global low carbon economy."
Dion Vaughan, chief executive of Metalysis, added: "We are very pleased to commence Phase II of our R&D programme with Mkango.
"Producing a neodymium-iron-boron alloy illustrates the wide range of advanced alloys Metalysis' process can produce.
"We look forward to collaborating with Mkango over the coming months on this exciting project."
Mkango has completed a £500,000 placing to commence the second phase of the project.
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