Mkango advances UK rare earth magnet recycling plant as government backs Tyseley build

Mkango Resources ( (TSE:MKA) ) has shared an announcement.

Mkango Resources’ subsidiary HyProMag is advancing construction of a rare earth magnet recycling and manufacturing plant at Tyseley Energy Park in Birmingham, developed in partnership with the University of Birmingham. The facility is designed to reinforce the UK’s domestic supply of rare earth magnets by integrating innovative Hydrogen Processing of Magnet Scrap technology with new magnet production.

Initial commercial production at Tyseley is targeted for the end of the second quarter of 2025, with magnet alignment presses commissioned, the powder processing plant built and key infrastructure, including data, battery and electrical rooms, largely in place. Ongoing pilot production using HPMS is already enabling early deliveries to customers and will be scaled up as the commercial plant is commissioned.

A recent visit by representatives from the UK Department for Business and Trade and the Office for Investment underlined strong government backing for the project and its role in the country’s critical minerals and advanced manufacturing strategy. By commercialising HPMS technology and enabling short, medium and long loop recycling routes, Mkango and HyProMag aim to reduce environmental impact, enhance supply security and cement the UK’s position in advanced magnet technology.

The most recent analyst rating on (TSE:MKA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Mkango Resources stock, see the TSE:MKA Stock Forecast page.

Spark’s Take on MKA Stock

According to Spark, TipRanks’ AI Analyst, MKA is a Neutral.

The score is held down primarily by weak financial performance: no revenue, sustained cash burn, and a sharp TTM deterioration including negative equity. Technicals provide the main support due to a strong uptrend and positive momentum, but valuation remains constrained by ongoing losses and no dividend data.

To see Spark’s full report on MKA stock, click here.

More about Mkango Resources

Mkango Resources is a dual-listed company on AIM and the TSX-V, pursuing a strategy to become a market leader in recycled rare earth magnets, alloys and oxides through its majority interest in Maginito and subsidiary HyProMag. The group focuses on developing sustainable rare earth magnet recycling and manufacturing capabilities, supporting critical minerals supply chains primarily in the UK and internationally.

Average Trading Volume: 84,237

Technical Sentiment Signal: Buy

Current Market Cap: C$293.4M

Find detailed analytics on MKA stock on TipRanks’ Stock Analysis page.