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Recycling is a key component of Mkango’s “mine, refine, recycle” strategy via its strategic interest in HyProMag, and will become an increasingly important part of the rare earth supply chain in the UK, Europe and elsewhere.

William Dawes, Chief Executive of Mkango stated: “This is a significant milestone for HyProMag, University of Birmingham and European Metal Recycling, demonstrating another potential source of both feedstock and route to market for recycled rare earth magnets.

The short loop recycling processes which are being scaled up by HyProMag will have a significant environmental benefit, requiring 88 per cent less energy compared to conventional production of magnets from primary sources. The development of domestic sources of recycled rare earths via HPMS (Hydrogen Processing of Magnet Scrap), a homegrown technology, is a significant opportunity for the UK to fast-track the development of sustainable and competitive rare earth magnet production. The UK has no domestic source of primary rare earths. Loudspeakers account for approximately 20 per cent of the current market for rare earth magnets, according to Adamas Intelligence, and therefore represent a significant opportunity for rare earth magnet recycling. Rare earth magnets play a key role in clean energy technologies including electric vehicles and wind turbine generators, but they are also a key component in electronic devices including mobile phones, hard disk drives and loudspeakers. Maginito has the first right to supply primary production, if required for blending with recycled production from HyProMag, as well as product offtake and marketing rights. Mkango’s subsidiary, Maginito Limited (“Maginito”), holds a 25 per cent equity interest in HyProMag, with an option to increase its interest up to 49 per cent. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that HyProMag Limited (“HyProMag”) and partners, European Metal Recycling Limited (“EMR”) and University of Birmingham (“UoB”) have successfully completed the previously announced REAP project (“Rare-Earth Extraction from Audio Products”) (the “Project”). 30, 2021 (GLOBE NEWSWIRE) - Mkango Resources Ltd. LONDON and VANCOUVER, British Columbia, Sept.

HyProMag, together with its strong network of partnerships, access to Intellectual Property and longstanding experience in the sector, has a significant opportunity to unlock the supply chain for recycling of rare earth magnets from a diverse range of sources, including electric vehicles, wind turbines and electronic devices.

This highly encouraging result highlights that HPMS can be used to create a new sustainable and low energy impact feedstock, which would otherwise be lost to landfill, for the commercial manufacture of rare earth magnets for the UK supply chain, and provides a strong platform to scale up production.

The quantity, properties, economics and suitability of loudspeaker magnets for recycling was confirmed in the project, with the recycled magnets produced having comparable magnetic properties to the initial starting magnets.

The recycling process is underpinned by hydrogen processing of magnet scrap (“HPMS”) technology, originally developed within the Magnetic Materials Group at UoB and subsequently licenced to HyProMa g.

Successful completion of groundbreaking project to recycle rare earth magnets from loudspeakers in vehicles and flat screen TVs, led by HyProMag Limited (“HyProMag”), European Metal Recycling Limited (“EMR”) and University of Birmingham (“UoB”), funded via a grant from the Industrial Strategy Challenge Fund, delivered by UK Research and Innovation (“UKRI”).