Companies complete study for HyProMag USA project, aiming to recycle rare earth magnets, with $262M post-tax NPV.

Mkango Resources and CoTec Holdings have completed a feasibility study for the HyProMag USA project, which focuses on recycling rare earth magnets using patented HPMS technology. The study shows strong financials, with a $262 million post-tax NPV and a 23% real IRR based on current prices. The $125 million project, set for completion by Q1 2027, aims to produce recycled NdFeB magnets in the U.S., creating about 90 jobs. It could be replicated across the country.

November 25, 2024
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