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Mkango Resources ( (TSE:MKA) ) has provided an update.
Mkango Resources Ltd. and CoTec Holdings Corp. have announced significant advancements in their HyProMag Limited’s pilot program, which aims to scale up the production of recycled rare earth magnets using HPMS technology. This development is expected to enhance the company’s capabilities in producing low-carbon, commercial-grade magnets from various waste streams, positioning them as a leader in sustainable magnet production. The progress includes successful testing of magnets in automotive applications and the development of a production-ready HDD magnet separation system, with plans to expand commercial production in the UK, Germany, and the USA.
More about Mkango Resources
Mkango Resources Ltd. operates in the rare earth materials industry, focusing on the development and commercialization of technologies for recycling rare earth magnets. Their primary product involves the production of recycled rare earth magnets using Hydrogen Processing of Magnet Scrap (HPMS) technology, with a market focus on the UK, Germany, and the USA.
Learn more about MKA stock on TipRanks’ Stock Analysis page.