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Mkango Resources ( (TSE:MKA) ) has shared an announcement.
Mkango Resources Ltd. has announced the first production runs for its commercial scale Hydrogen Processing of Magnet Scrap vessel at the Tyseley Energy Park in Birmingham, UK. This development marks a significant milestone for the company and its partners, as it brings back sintered magnet manufacturing to the UK after a 20-year hiatus. The plant, funded by UK Research and Innovation, is the only commercial scale rare earth sintered magnet making facility in the UK. HyProMag, Mkango’s commercial partner, plans to increase its production capacity significantly by 2026, with further expansion options being evaluated. This initiative is expected to strengthen the UK’s critical mineral ambitions and create a platform for further growth in the rare earth magnet industry.
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. It aims to become a market leader in this sector through its interest in Maginito Limited, which is involved in rare earth magnet recycling in the UK and Germany. Mkango also owns the Songwe Hill rare earths project in Malawi and the Pulawy rare earths separation project in Poland, both recognized as Strategic Projects under the European Union Critical Raw Materials Act.
See more insights into MKA stock on TipRanks’ Stock Analysis page.