President of the Mkango and Lancaster Exploration Alexander Lemon has announced that Songwe Hill has 17 rare earth minerals, which are on high demand. He revealed the news during a tour by Mines and Energy Minister Bintony Kutsaira.

According to Lemon, the minerals found on Songwe Hill in Phalombe are in millions of tonnes and would take the country over 20 years of mining.

The announcement follows after Mkango Resources secured £7 million from Talaxis for completion of a feasibility study, in April. In a statement, Mkango Resources said the investment, made available by Lancaster Exploration Limited would fund completion of the feasibility study, which will be completed in 2020.

The statement says that after completion of the study, Talaxis has an option of acquiring a further 26% interest in Songwe by arranging financing for project development including funding the equity component thereof.

In 2017, Mkango Resources reported by 2021, it will be producing 3,000 tonnes of rare earths per year. The figure includes 1,000 tonnes of praesodymium, neodymium, dysprosium and terbium, which are expected to become essential for the manufacturing of batteries, magnets and electric vehicles.