HyProMag Advances in Rare Earth Magnet Recycling

EastCoal ( (TSE:CTH) ) has issued an update.

Mkango Resources Ltd. and CoTec Holdings Corp. announced that HyProMag Limited has achieved significant technical milestones in its advanced pilot program for recycling rare earth magnets using HPMS technology. This development is pivotal for scaling up commercial production in the UK, Germany, and the USA, with a focus on reducing carbon footprints and enhancing recycling efficiency. The program has produced over 3,500 commercial-grade magnets, and recent advancements include optimizing HPMS for various scrap sources and successful prototype testing with automotive partners. These efforts position HyProMag as a leader in sustainable magnet production, potentially impacting stakeholders by providing a reliable source of recycled magnets for various industries.

More about EastCoal

EastCoal is involved in the rare earth magnet industry, focusing on the production and recycling of rare earth magnets through innovative technologies. Its primary product is domestically sourced and short-loop recycled rare earth magnets, with a market focus on the UK, Germany, and the USA.

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Current Market Cap: C$62.97M

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