Mkango Resources Ltd's (LSE:MKA) subsidiary HyProMag supplied recycled NdFeB magnets to Siemens for use in a SIMOTICS servomotor rotor shown at Hannover Messe and said it is transitioning from commissioning to commercial magnet production.
Mkango Resources, an AIM and TSX‑V listed rare earths company, reported HyProMag has produced 9.2 tonnes of recycled NdFeB alloy powder to date from the HPMS vessel, of which 7.4 tonnes have been shipped to customers.
"HyProMag is uniquely positioned to fulfil customer requirements for recycled rare earth magnets across Europe and North America," said William Dawes, Chief Executive of Mkango.
HyProMag has begun automated pre‑processing of hard disk drives at Tyseley using Inserma Anoia S.L.'s unit, has a first full HDD batch ready for HPMS processing and is recovering printed circuit board assemblies during pre‑processing.
The company is evaluating a phased expansion of TEP capacity to 100-350 tpa initially and targeting 1,000 tpa thereafter, and a DRIVE35 grant will fund a feasibility study into the 1,000 tpa scale‑up.
A separate APC‑backed REACT UK grant brings partners including Mkango Rare Earths UK, EMR Group, Jaguar Land Rover, Less Common Metals and the University of Birmingham to focus on automotive magnet grades, grain boundary diffusion and virgin‑blend routes.
HyProMag says it has supplied magnet samples to over 20 potential customers, released 200 machined pieces for validation, and is close to completing coating development for prototype and low‑volume production.
Mkango has received notice to issue 350,000 shares on exercise of options at C$0.185, with Admission of the Option Shares expected at 8:00 am on or around 28 April and issued share capital to total 387.46m shares.
