Mkango-Backed HyProMag USA Plans Three-Hub Buildout to Triple U.S. Rare Earth Magnet Capacity by 2029

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

Mkango Resources’ associated company HyProMag USA has completed expansion concept studies and launched pre‑feasibility work for new rare earth magnet recycling and manufacturing hubs in South Carolina and Nevada, building on its first Texas facility to create a modular, three‑hub U.S. platform. The plan would triple U.S. NdFeB magnet and alloy capacity to 4,656 metric tons a year by 2029, underpinning a forecast post‑tax NPV of more than $2 billion and strong projected returns, and is intended to support a future U.S. listing, strengthen domestic supply chains for critical technologies such as AI and EVs, create around 300 skilled manufacturing jobs, and further entrench the company’s role in low‑carbon, recycled magnet production.

More about Mkango Resources

Mkango Resources, listed on AIM and TSX-V, is positioning itself as a market leader in recycled rare earth magnets, alloys and oxides through its majority stake in Maginito and indirect interest in HyProMag. Via HyProMag USA, the group focuses on establishing a secure, low‑carbon U.S. supply chain for neodymium‑iron‑boron (NdFeB) magnets used in AI infrastructure, defense, robotics, electric vehicles and advanced electronics, leveraging proprietary HPMS recycling technology developed with significant R&D backing from the University of Birmingham.

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