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Mkango Resources ( (TSE:MKA) ) has shared an announcement.
Mkango Resources Ltd announced that HyProMag USA, a joint venture involving Mkango, has finalized a lease for a rare-earth magnet recycling and manufacturing facility in Dallas-Fort Worth, Texas. This facility will use patented technology to recycle rare earth magnets and is expected to create 90-100 skilled jobs. The project is part of a broader strategy to establish a domestic supply chain for rare-earth magnets in the U.S., reducing reliance on overseas sources. The Texas Facility will serve as a central hub in a network that includes planned pre-processing facilities in Nevada and South Carolina, aiming to revitalize the U.S. magnet sector and support clean energy and technology manufacturing.
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 Limited, 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 advanced stage rare earth projects in Malawi and Poland, which have been selected as Strategic Projects under the European Union Critical Raw Materials Act.
Find detailed analytics on MKA stock on TipRanks’ Stock Analysis page.