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Mkango Resources ( (TSE:MKA) ) has shared an announcement.
Mkango Resources Ltd announced progress in its HyProMag USA project, focusing on rare earth magnet recycling and manufacturing in Dallas-Fort Worth, Texas. The project aims to establish a sustainable, domestic supply of neodymium iron boron magnets in the U.S., with the Detailed Design phase 25% complete. The company is advancing its engineering and design criteria, targeting further improvements and expansion to three hubs in the U.S. The project is expected to significantly impact the U.S. magnet sector, creating skilled jobs and providing a low-carbon supply chain.
More about Mkango Resources
Mkango Resources Ltd is a company listed on the AIM and TSX-V, focusing on the production of recycled rare earth magnets, alloys, and oxides. Through its interest in Maginito, Mkango aims to become a market leader in sustainable sources of neodymium, praseodymium, dysprosium, and terbium, catering to the growing demand from electric vehicles, wind turbines, and other clean energy technologies. The company is involved in rare earth magnet recycling in the UK, Germany, and the United States, and owns advanced stage projects in Malawi and Poland.
See more data about MKA stock on TipRanks’ Stock Analysis page.