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Mkango Rare Earths Ltd
CEO William Dawes leads Mkango Rare Earths Ltd, a London-listed mining developer advancing the Songwe Hill project and HyProMag recycling.
Mkango Rare Earths Ltd
Mkango Rare Earths Ltd was listed on the London Stock Exchange AIM (ticker MKA) to develop rare earth assets in Africa and Europe. CEO William Dawes and Chairman Derek Linfield lead a team focused on securing supply of magnet metals for electric vehicles and wind turbines. The firm operates a dual-strategy model: primary mining at Songwe Hill in Malawi, which hosts a rare earth deposit with significant neodymium and praseodymium content, and recycling via HyProMag, a UK-based joint venture that recovers rare earth magnets from scrap. The Songwe Hill feasibility study was completed in 2020 (per Mkango, 2020). Mkango also holds exploration licenses in Malawi and has partnered with CoTec Holdings for funding. The geographic footprint covers sub-Saharan Africa and the United Kingdom. The firm's market capitalization is approximately £30 million as of 2025, making it a small-cap mining developer. Team size is not publicly disclosed; the board includes several mining finance veterans. Mkango's adjacent vehicle is Maginito, a subsidiary that holds the HyProMag recycling technology and exploration interests. In September 2024, Mkango announced a £10 million offtake and investment agreement with CoTec Holdings (per Mkango, September 2024). What distinguishes Mkango is its vertically integrated rare earth model—combining primary mining with recycling—to supply both virgin and recycled magnet metals. This structure is rare among London-listed mining developers, most of which focus solely on extraction.
General information
Firm type
Asset Manager
Year founded
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AUM
Undisclosed
Location
Region
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Country
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City
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Corporate office
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Principals
William Dawes
Chief Executive Officer
Derek Linfield
Non-Executive Chairman
Sector focus
Frequently asked questions
Who runs investment decisions at Mkango Rare Earths Ltd?
CEO William Dawes and Chairman Derek Linfield oversee corporate strategy and investment decisions. The board includes several mining finance professionals (per Mkango corporate filings, 2025).
How does Mkango source proprietary deal flow?
Mkango's proprietary assets come from its own exploration licenses in Malawi and the HyProMag recycling joint venture. The firm has not historically acted as a deal flow partner for external allocators.
Is Mkango structured as a single family office or does it operate more like a mining company?
Mkango Rare Earths Ltd is a publicly listed mining company on the London Stock Exchange AIM, not a family office. It operates as a project developer and recycler of rare earth metals.
What investment stages does Mkango typically target?
Mkango is a mining developer, not an investor. It develops its own projects from exploration through to feasibility and potential production, and partners with companies like CoTec Holdings for project financing (per Mkango, September 2024).
Which sectors does Mkango explicitly avoid?
Mkango focuses exclusively on rare earths, specifically neodymium, praseodymium, dysprosium, and terbium for permanent magnets. It does not engage in other metals, oil, gas, or financial investments.
Where does the underlying wealth come from?
Mkango is not a wealth-management entity. Its funding comes from equity issuances, offtake agreements, and CoTec Holdings' investment. No family office or multi-generational wealth is involved.
How is Mkango related to CoTec Holdings?
CoTec Holdings is a strategic investment partner that provided a £10 million offtake and investment agreement in September 2024 to advance the Songwe Hill rare earth project (per Mkango, September 2024). They are not under common ownership.
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