Mkango Resources Ltd. Competitors

MP Materials (NYSE: MP) is America’s only fully-integrated rare earth producer with capabilities spanning the entire supply chain—from mining and processing to advanced metallization, magnet manufacturing and recycling. MP Materials currently operates the world’s second-largest rare earth mine in Mountain Pass, California – one of the world’s richest rare earth deposits – where it extracts, refines, and separates rare earth materials. The Company also manufactures the world’s strongest and most efficient permanent magnets at its Independence magnetics facility in Texas. MP Materials is extending its downstream capabilities through its transformational public-private partnership with the U.S. Department of War to dramatically accelerate the build-out of an end-to-end U.S. rare earth magnet supply chain at scale and reduce foreign dependency. MP Materials will soon begin construction of the Company’s second magnet manufacturing facility in the United States, 10X. MP’s flagship customers include Apple, General Motors, and the U.S. Department of War.

Energy Fuels (NYSE MKT UUUU | TSX:EFR) is a Denver-based, global critical mineral company poised to provide 10 of the 50 critical minerals the world needs for today’s technology and beyond. Utilizing a 45-year history in uranium, we leverage our expertise, permits and facilities to bring key elements to the global supply chain. Energy Fuels is currently the largest U.S. uranium provider, supplying American nuclear energy utilities with the first step in the zero-emissions nuclear energy fuel cycle. Our White Mesa Mill in Utah is the only conventional uranium mill in the country and processes natural uranium ore into natural uranium concentrate for a domestic supply chain. The company also produces rare earth oxides for use in permanent magnets used in electric mobility, wind energy, drones, robotics and defense technologies, processing at our facility in the U.S. Energy Fuels has a global footprint of heavy mineral sands assets to support rare earth processing in addition to new products like titanium, zircon minerals and medical isotopes.

Avalon Advanced Materials Inc. is a Canadian critical minerals company focused on advancing lithium and rare earth elements—two of the fastest-growing segments of the global energy transition. The Company is developing strategic assets to participate in high-growth markets and support the build-out of secure North American supply chains. Avalon is advancing the Nechalacho Rare Earth Elements and Zirconium Project in the Northwest Territories, which contains all light and heavy rare earth elements, as well as yttrium, zirconium, tantalum, and niobium—critical minerals used in advanced technologies across the communications, defense, advanced technologies, and energy sectors. The Company is also focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc., Ontario’s first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility is expected to serve as a cornerstone of North America’s integrated battery materials supply chain, transforming northern Ontario lithium into essential inputs for transportation, grid storage, and advanced manufacturing. TSX: AVL | OTCQB: AVLNF