$MKA.V

HyProMag Ltd is 100% Owned by Maginito Ltd, Which is Owned on a 79.4%/20.6% Basis by Mkango Resources and CoTec

HyProMag USA LLC is Owned 50:50 by CoTec and HyProMag Limited

CoTec JV, HyProMag USA, to Commence Preparatory Work for Project Execution Phase at Dallas-Fort Worth Texas Hub

Mkango Resources Signs Agreement With Heraeus To Acquire Heraeus Remloy

Mkango Resources (MKA.V) signed an asset purchase agreement with Heraeus Amloy Technologies GmbH, to acquire its Remloy rare earth magnet recycling business for 8 million euros (US$9.4 million) in cash, the company said early Wednesday.It includes 5 million euros (US$5.6 million) payable on closing, expected within the next three months, and 3 million euros (US$3.5 million) payable two years after closing, said the company.The initial payment of 5 million euros will be funded from Mkango's existing cash balance, stated the company."Remloy has developed a plant in Bitterfeld, Germany, which recycles end-of-life rare earth magnets via a melting process (medium loop recycling) to produce neodymium-iron-boron ("NdFeB") alloy powders for the bonded and hot deformed magnet markets, complementary to HyProMag's short loop recycling process to produce sintered magnets," said the company.Total capacity of the production facility is 500 tonnes of NdFeB alloy per year and the plant is targeting scale-up to this level of production over the next few years with minimal capital expenditure required, said the company, and added that the assets are currently non-revenue generating and therefore no historic profits are attributable to them, given the facility is still in the start-up phase."Multiple production runs have been completed with the current focus on product optimisation, sample generation for customers and ongoing offtake discussions to support the commencement of commercial sales and targeted scale-up of operations, whilst capitalising on potential synergies with Mkango and HyProMag," added the company.The stockpile comprises more than 300 tonnes of rare earth magnets, rare earth alloys and other raw materials, which helps underpin the growth strategy, it said.The transaction is expected to close in the summer of 2026, subject to customary closing conditions and receipt of required regulatory approvals, said the company.

Mkango Resources, Siemens Collaborate on Rare Earth Magnet Recycling

Mkango Resources (MKA.V) is collaborating with Siemens as part of the company's efforts to advance its rare earth magnet recycling and manufacturing facility in the U.K., Mkango said Thursday.Siemens has incorporated recycled neodymium-iron-boron (NdFeB) magnets produced by Mkango subsidiary HyProMag into a SIMOTICS servomotor rotor this week, Mkango said. Servomotors are used in robotics, tooling machines, packing machines and other applications.The Mkango-Siemens collaboration is focused on transforming old magnets into new high-performance components to close the loop on circularity, Mkango said."The collaboration with Siemens is one example of win-win partnerships being developed by HyProMag, and we are engaging with multiple potential customers across a range of industries," Mkango Chief Executive William Dawes said.HyProMag has produced 9.2 tonnes of recycled NdFeB alloy powder to date following commissioning of the hydrogen processing of magnet scrap vessel last year, of which 7.4 tonnes has been shipped to customers, Mkango added."Mkango aims to provide a one-stop-shop solution for primary and secondary rare earth products across the supply chain, coupled with competitive technology solutions for rare earth magnet recycling via HyProMag and Inserma," Dawes added.