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An announcement from Mkango Resources ( (TSE:MKA) ) is now available.
Mkango Resources Ltd has announced the commissioning of a scoping study by PegasusTSI Inc. and BBA USA Inc. to expand HyProMag USA’s rare earth magnet recycling operations into Nevada and South Carolina. This expansion is expected to significantly increase the company’s capacity and value, aligning with the U.S. government’s efforts to bolster domestic supply chains for rare earth magnets. The project aims to optimize the hub and spoke model, with the Texas Hub as the central facility, and is anticipated to support U.S. demand growth with commercial operations targeted for the first half of 2027.
More about Mkango Resources
Mkango Resources Ltd is a company listed on the AIM and TSX-V, focusing on becoming a leader in the production of recycled rare earth magnets, alloys, and oxides. Through its interest in Maginito, Mkango aims to develop sustainable sources of rare earth elements like 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 rare earth projects in Malawi and Poland, which have been recognized as strategic projects under the European Union Critical Raw Materials Act.
See more data about MKA stock on TipRanks’ Stock Analysis page.