Mkango Backs Launch of UK’s First Commercial Rare Earth Magnet Recycling Plant in 25 Years

An update from Mkango Resources ( (TSE:MKA) ) is now available.

Mkango Resources announced the official opening of a rare earth magnet recycling and manufacturing facility at Tyseley Energy Park in Birmingham, developed by the University of Birmingham’s Magnetic Materials Group and constructed and commissioned with HyProMag. The plant, the UK’s only commercial-scale sintered rare earth magnet manufacturing facility and the first to enable commercial magnet production in the country in 25 years, uses HyProMag’s exclusively licensed Hydrogen Processing of Magnet Scrap technology to recover rare earth alloy from end-of-life magnets and produce new sintered magnets with a capacity of up to 300 tonnes per year on multiple shifts. Company executives say the low-carbon, cost-advantaged process strengthens domestic supply chains, supports UK critical mineral strategy targets for local sourcing and recycling, and provides a platform for further scale-up and international roll-out already underway in Germany and the United States, with additional countries under consideration.

The most recent analyst rating on (TSE:MKA) stock is a Hold with a C$0.99 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 TSE:MKA Stock

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

The score is mainly constrained by very weak financial performance (no revenue, widening TTM losses, ongoing cash burn, and negative equity). Technicals are also weak with the price below key moving averages and a negative MACD. A positive corporate update around regulatory impact and funding support improves the outlook somewhat, but valuation remains unattractive due to losses and no dividend support.

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

More about Mkango Resources

Mkango Resources is a mineral exploration and development company focused on critical minerals, notably rare earth elements, with a strategic emphasis on developing and integrating supply chains for rare earth magnets. Through its investment in HyProMag and collaboration with the University of Birmingham, the company is positioning itself in downstream processing and recycling of rare earth magnets, targeting growing demand from electric vehicles, wind turbines and other high-tech applications.

Average Trading Volume: 175,563

Technical Sentiment Signal: Buy

Current Market Cap: C$350.7M

For a thorough assessment of MKA stock, go to TipRanks’ Stock Analysis page.