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Mkango Resources ( (TSE:MKA) ) just unveiled an update.
Mkango Resources Ltd. and CoTec Holdings Corp. have appointed PegasusTSI and BBA to manage the engineering, procurement, and construction for HyProMag USA’s rare earth magnet recycling and manufacturing project in Texas. This project aims to supply 10% of U.S. domestic demand for NdFeB magnets within five years, enhancing the domestic supply chain and reducing reliance on foreign sources. The initiative is expected to create 90-100 skilled jobs and has a low carbon footprint, aligning with strategic goals to bolster U.S. manufacturing capabilities and secure critical mineral supply chains.
More about Mkango Resources
Mkango Resources Ltd. is a company listed on the AIM and TSX-V, focusing on the production of recycled rare earth magnets, alloys, and oxides. Through its interest in Maginito Limited, Mkango aims to develop sustainable sources of neodymium, praseodymium, dysprosium, and terbium to meet the growing demand from electric vehicles, wind turbines, and other clean energy technologies.
YTD Price Performance: 145.28%
Average Trading Volume: 1,808,149
Technical Sentiment Signal: Sell
Current Market Cap: £65.74M
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