Mkango’s U.S. Magnet Recycling Project Advances

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

Mkango Resources Ltd. and CoTec Holdings Corp. are progressing with the feasibility study of HyProMag USA, aiming to establish a sustainable rare earth magnet recycling and production facility in the United States. The study, expected to conclude in Q4 2024, will position HyProMag USA to supply the U.S. market with NdFeB permanent magnets, vital for low carbon technologies. The companies are seeking funding, including U.S. government support, with production anticipated to start in the second half of 2026.

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