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An update from Mkango Resources ( (TSE:MKA) ) is now available.
Mkango Resources Ltd announced that its subsidiary, HyProMag USA, has purchased three Inserma pre-processing units for rare earth magnet recycling hubs in Texas, Nevada, and South Carolina. This acquisition is part of HyProMag USA’s strategy to enhance its recycling capabilities and support the growing demand for recycled rare earth magnets, driven by the expansion of hyperscale data centers and the increasing focus on electric mobility and clean energy. The initiative is expected to bolster HyProMag’s competitive advantage by providing a cost-effective and low-carbon solution for recycling rare earth magnets, while also creating skilled jobs and revitalizing the U.S. magnet sector.
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, 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. The company is also involved in strategic projects in Malawi and Poland, which have been recognized under the European Union Critical Raw Materials Act.
See more data about MKA stock on TipRanks’ Stock Analysis page.