HyProMag’s Texas rare earth recycling plant now produces 941 tons of magnets annually, with strong profits, low costs, and plans for a U.S. stock listing.

HyProMag USA has updated its Texas Hub rare earth magnet recycling facility, boosting annual production to 941 metric tons of recycled NdFeB magnets and 611 tons of co-products, totaling 1,552 tons over 40 years. The project now has a post-tax NPV of $409 million at current prices and $780 million under forecast prices, with a 27.6% to 38.7% internal rate of return. It features a low sustaining cost of $22.3 per kg, well below the $56.8 market price, and a payback period of 2.2 to 3.1 years. Initial costs are $142 million, with construction expected to take one year. The facility, supported by pre-processing sites in South Carolina and Nevada, is scalable and expected to create 90–100 jobs, strengthen domestic supply chains, and maintain a low carbon footprint. HyProMag is reviewing a potential U.S. public listing in late 2026 or early 2027.