Cotec's HyProMag USA starts feedstock stockpiling

Executive Summary

• HyProMag USA LLC, a joint venture between Cotec Holdings Corp. and Mkango Resources Ltd., has formally commenced the stockpiling of feedstock (NdFeB magnet scrap) through its partner, Intelligent Lifecycle Solutions LLC (ILS).
• The stockpiling and subsequent preprocessing of feedstock will occur at ILS facilities in Williston, South Carolina, and Reno, Nevada, with preprocessing expected to begin before December 31, 2025.
• This milestone supports HyProMag USA's goal of securing 6–12 months of feedstock prior to the commissioning of its advanced rare-earth magnet recycling and manufacturing plant in the Dallas-Fort Worth, Texas area.

Key Details

• Feedstock Initiative: Intelligent Lifecycle Solutions LLC (ILS) has commenced stockpiling NdFeB (neodymium-iron-boron) feedstock pursuant to a share agreement between HyProMag USA LLC and ILS.
• Locations: Stockpiling and preprocessing are taking place at ILS sites in Williston, S.C., and Reno, Nev.
• Timeline: Preprocessing of the feedstock is expected to commence prior to December 31, 2025.
• Feedstock Target: HyProMag USA aims to secure between six months and 12 months of feedstock prior to the commissioning of its plant.
• Facility Location: The advanced-stage rare-earth magnet recycling and manufacturing plant is located in Dallas-Fort Worth, Texas.
• Technology: The project utilizes Hydrogen Processing of Magnet Scrap (HPMS) technology, with detailed engineering well underway following a positive feasibility study.
• Compliance: ILS is fully compliant with ISO 14001:2015, ISO 45001:2018, and R2v3 "responsible recycling" standards at its U.S. locations.
• Strategic Goal: The initiative aims to provide full traceability for products, support the closed-loop circular economy, and contribute to the U.S. supply chain of rare-earth magnets to accelerate the reshoring of the U.S. industrial base.

Notable Quotes

• Julian Treger, Cotec CEO: "This is another major milestone in the execution of the HyProMag USA project. Securing feedstock is key to the success of any recycling business and we are pleased to work with credible companies such as ILS."
• Will Dawes, Mkango CEO: "The agreement with ILS and commencement of stockpiling of NdFeB feedstock underpins the rapid deployment of hydrogen processing of magnet scrap (HPMS) and associated magnet manufacturing into the United States by HyProMag USA... These developments will catalyze development of a more robust rare-earth supply chain, whilst unlocking new NdFeB scrap sources in the United States and generating significant value for HyProMag USA and its stakeholders."