Mkango, Cotec's HyProMag expands supply deal with ILS
Executive Summary
- Mkango Resources Ltd. and Cotec Holdings’ HyProMag USA LLC have expanded their feedstock supply agreement with Intelligent Lifecycle Solutions (ILS) to include additional NdFeB sources such as electric‑motor rotors, wind‑turbine magnets, speaker assemblies and MRI machines.
- ILS will procure bulk NdFeB feedstock and work with a joint technical procurement team to accelerate purchases and onboard the Inserma Anoia SL third‑generation HDD magnet separation system by end‑December 2025.
- The expanded agreement supports HyProMag USA’s Texas hub, projected to produce 750 t/yr of recycled sintered NdFeB magnets and 807 t/yr of co‑products, creating 90–100 skilled jobs and delivering a low carbon footprint (2.35 kg CO₂e/kg product).
Key Details
- Agreement Expansion:
- Existing partnership with ILS now covers HDD feedstock plus bulk NdFeB from electric motors, wind turbines, speakers, and MRI machines.
-
Joint technical procurement team created to accelerate sourcing and onboarding of the Inserma Anoia SL third‑generation HDD magnet separation system.
-
Timeline & Deliverables:
-
Target delivery of Inserma Anoia equipment to ILS preprocessing sites (Williston, SC & Reno, NV) by December 2025.
-
HyProMag USA Feasibility Highlights:
- Texas hub annual capacity: 750 t/yr recycled sintered NdFeB magnets, 807 t/yr NdFeB co‑products (total payable capacity ≈ 1,557 t/yr within five years).
-
Expected operating life: 40 years; job creation: 90–100 skilled magnet manufacturing positions.
-
Environmental Impact:
-
Independent ISO‑compliant carbon footprint study (Mar 2025) confirms 2.35 kg CO₂e per kg of NdFeB cut sintered block, indicating an exceptionally low emissions profile.
-
Strategic Context:
- HyProMag USA is a 50/50 joint venture between Cotec Holdings and Mkango Resources, leveraging the HPMS (hydrogen processing of magnet scrap) technology pioneered at the University of Birmingham pilot facility.
-
The expanded feedstock agreement aligns with Mkango’s broader strategy to become a market leader in recycled rare‑earth magnets, alloys, and oxides for EVs, wind turbines, and other clean‑energy applications.
-
Quotes:
- Julian Treger (Chief Executive, Cotec): “The ILS supply agreement continues to progress multiple NdFeB feedstocks… supporting the technical procurement team as it targets bulk sources across the United States.”
- Graham Davy (CEO, ILS): “ILS is excited to expand its procurement efforts… providing a platform for further ILS growth and advancing rare‑earth recycling in the USA.”
All forward‑looking statements are subject to risks and uncertainties detailed in Mkango Resources’ public filings.