Mkango Resources (AIM:MKA) has signed an asset purchase agreement with Heraeus Amloy Technologies to acquire the Remloy rare earth magnet recycling business for €8 million.
Mkango, the AIM- and TSX‑V‑listed rare earths developer and recycler, said €5 million is payable on closing-funded from its existing cash following a £12.5 million equity placement that closed on 10 April-and €3 million is payable two years after closing.
Remloy operates a fully commissioned plant in Bitterfeld, Germany, currently completing production test runs and targeting first commercial sales of NdFeB alloy powder by the end of the year, with targeted scale‑up to 500 tonnes per year over the next few years.
Mkango described the acquisition as complementary to its HyProMag short‑loop recycling capabilities and said synergies include cross‑supply of end‑of‑life magnets and HPMS‑derived feedstock, technical and grant collaboration, co‑marketing and potential blending with Mkango’s Songwe Hill primary feedstock.
Mkango said the assets are in a start‑up phase, carry no historic profits to date and require no further major development capital expenditure.
“We look forward to working with the Remloy team to grow the business and further develop the rare earth recycling and magnet manufacturing ecosystem in Germany and its neighbours,” said William Dawes, Chief Executive Officer.
The Transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the summer of 2026.
