Cotec portfolio co. backs Inserma system for recycling

Executive Summary

• Cotec Holdings Corp. notes the commissioning of the Inserma hard disk drive magnet preprocessing system at the HyProMag USA joint venture facility in Williston, South Carolina.
• The system represents a key operational milestone in HyProMag USA's U.S. rare-earth magnet recycling platform, serving as the first stage of feedstock preparation for the company's hub-and-spoke manufacturing strategy.
• The Williston site now houses two automated units capable of processing over 60,000 hard disk drives per week, separating magnet assemblies in approximately three seconds per drive.

Key Details

• System Commissioned: Inserma hard disk drive magnet preprocessing system.
• Location: ILS facility in Williston, South Carolina.
• Operational Capacity: Two automated Inserma preprocessing units with a combined capacity exceeding 60,000 drives per week.
• Processing Speed: Separates magnet assemblies from end-of-life hard disk drives in approximately three seconds per drive.
• Strategic Role: Marks the first stage of feedstock preparation supporting HyProMag USA's hub-and-spoke manufacturing strategy; materials are preprocessed at regional facilities like Williston before being supplied to the planned rare-earth magnet recycling and manufacturing hub in Dallas-Fort Worth, Texas.
• Ownership Structure: HyProMag USA is a 50:50 joint venture between Cotec Holdings and HyProMag Ltd. HyProMag Ltd is 100% owned by Maginito Ltd., which is owned 79.4% by Mkango Resources Ltd. (TSX-V: MKA) and 20.6% by Cotec.

Notable Quotes

• Julian Treger, CEO of Cotec Holdings: "We're grateful to Congressman Wilson and the many state and local South Carolina leaders who joined us to mark this important milestone... Through collaborations with companies like ILS and strong engagement with local stakeholders, HyProMag USA is building the feedstock supply chains and operational capabilities needed to support large-scale magnet production in the years ahead."