EastCoal (TSE:CTH) has released an update.
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CoTec Holdings Corp. and Mkango Resources Ltd. have announced progress in the feasibility study for their joint venture, HyProMag USA, which aims to establish a domestic supply of recycled rare-earth magnets in the United States. The study, halfway to completion, promises a production capacity of at least 500 tonnes annually, with prospects to scale up and diversify products. The project’s design and cost-efficiency are being refined, with final estimates and completion slated for Q4, 2024.
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