Mkango Wins UK Grant Backing for Circular Rare Earth Magnet Supply Chain

Mkango Resources ( (TSE:MKA) ) has issued an update.

Mkango’s subsidiaries HyProMag and Mkango Rare Earths UK have secured a place in the UK Government’s £4bn DRIVE35 programme, winning £2.6m in grants within a £6.5m, three-year REACT UK consortium to develop a fully circular domestic supply chain for recycled neodymium-iron-boron magnets for automotive use. Led by HyProMag alongside partners including Jaguar Land Rover, EMR, Less Common Metals and the University of Birmingham, the project will combine advanced recycling routes and hydrogen-based processing to recover magnets from end-of-life electric and hybrid vehicles and remanufacture them into high-grade drive motor magnets, bolstering UK supply-chain resilience and reinforcing Mkango’s early-mover position in rare earth magnet recycling.

A second APC-facilitated grant will fund a feasibility study into scaling magnet manufacturing at Tyseley, further underpinning Mkango’s ambitions to build industrial capacity in the UK for zero-emission vehicle technologies. Together, these initiatives strengthen the company’s integration across upstream recycling, materials processing and downstream magnet production, positioning it as a key player in securing sustainable rare earth supplies for the electric vehicle and clean energy sectors.

More about Mkango Resources

Mkango Resources is a dual-listed rare earths company on AIM and TSX-V, aiming to become a market leader in recycled rare earth magnets, alloys and oxides through its majority-owned Maginito unit. The group controls HyProMag in the UK and Germany for short-loop magnet recycling and Mkango Rare Earths UK for long-loop chemical recycling, and also owns the Songwe Hill project in Malawi and the Puławy separation plant in Poland, both designated EU Strategic Projects.

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