REG - Mkango Resources Ltd - HYPROMAG USA EXPANDS FEEDSTOCK SUPPLY AGREEMENT

Mkango ResourcesAnnouncement

19/11/2025 07:00

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RNS Number : 0772I  Mkango Resources Limited  19 November 2025

 MKANGO RESOURCES LTD.
 550 Burrard Street
 Suite 2900
 Vancouver
 BC V6C 0A3
 Canada

 

HYPROMAG USA EXPANDS FEEDSTOCK SUPPLY AGREEMENT

WITH GLOBAL ELECTRONICS RECYCLER, INTELLIGENT LIFECYCLE SOLUTIONS

 

London / Vancouver: 19 November 2025 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
("Mkango" or the "Company") is pleased to announce that HyProMag USA, LLC
("HyProMag USA") has expanded its feedstock supply agreement i  (#_edn1) with
global electronics recycling company, Intelligent Lifecycle Solutions, LLC
("ILS") (the "Supply Agreement").

ILS is currently securing and storing neodymium iron boron ("NdFeB") feedstock
from hard disk drives ("HDDs") at the ILS pre-processing sites in Williston,
South Carolina and Reno, Nevada (the "ILS pre-processing sites") in advance of
the commissioning of HyProMag USA's advanced stage rare earth magnet recycling
and manufacturing plant to be located in Fort Worth, Texas.

In addition to HDDs, ILS will start to procure bulk NdFeB feedstock including
rotors from electric motors, wind turbine magnets, speaker assemblies and
MRIs. ILS and HyProMag USA have agreed to create a joint "Technical
Procurement" team to accelerate all purchases and complete the onboarding of
the INSERMA ANOIA SL ("Inserma") "3rd generation" HDD magnet separation system
at its sites. HyProMag USA is targeting delivery of the machines to the ILS
pre-processing sites by the end of December 2025 ii  (#_edn2) .

Julian Treger, Chief Executive of CoTec commented: "The ILS supply agreement
continues to progress multiple NdFeB feedstocks that have been successfully
tested through the accelerated piloting programme at the University of
Birmingham's HPMS pilot facility which will support the technical procurement
team as it continues to target and purchase bulk NdFeB feedstock sources
across the United States. HyProMag USA is continuing to work closely to build
long-term partnerships with commercial suppliers and federal and state
government's to facilitate these feedstock sources."

Graham Davy, ILS CEO commented: "ILS is excited to expand its procurement
efforts to other NdFeB sources in partnership with HyProMag USA. The
additional procurement and pre-processing operations will assist the recovery
and recycling of critical strategic materials within the U.S. and provide a
platform for further ILS growth. We look forward to working collaboratively
with manufacturers and with their supply and vendor chains to facilitate the
growth of rare earth material recycling using HyProMag's innovative magnet
recycling technology in the USA."

HyProMag USA Feasibility Study

The Feasibility Study includes the Texas Hub, and two pre-processing
facilities located in South Carolina and Nevada respectively. In March 2025,
HyProMag USA announced the expansion of the detailed engineering phase to
include three HPMS vessels iii  (#_edn3) and that it was initiating concept
studies for further expansion and complementary "Long Loop" recycling iv 
(#_edn4) . The Texas Hub's annual production is expected to be 750 metric
tonnes per annum of recycled sintered NdFeB magnets and 807 metric tonnes per
annum of associated NdFeB co-products (total payable capacity - 1,557 metric
tonnes NdFeB within five years of commissioning) over a 40-year operating
life. It is expected the production facility will provide significant
optionality to supply the U.S. market with additional NdFeB alloy powder while
assisting in revitalising the U.S. magnet sector with the creation of 90-100
skilled magnet manufacturing jobs.

In March 2025, HyProMag USA announced the results of an independent
ISO-Compliant product carbon footprint study which confirmed an exceptionally
low CO(2) footprint of 2.35 kg CO(2) eq. per kg of NdFeB cut sintered block
product. v  (#_edn5)

In August 2025, HyProMag USA announced ILS had formally commenced its
stockpiling of feedstock initiative pursuant to the recently announced
feedstock supply and pre-processing site share agreement between HyProMag USA
and ILS.

In September 2025, HyProMag USA announced the commissioning of a Concept Study
to evaluate the expansion of its operations into Nevada and South Carolina in
collaboration with ILS. vi  (#_edn6)

In September 2025, HyProMag USA announced the commissioning of a Concept Study
to evaluate long-loop recycling with Worley Group Inc. vii  (#_edn7)

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango's corporate strategy is to
become a market leader in the production of recycled rare earth magnets,
alloys and oxides, through its interest in Maginito Limited ("Maginito"),
which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec Holdings
Corp. ("CoTec"), and to develop new sustainable sources of neodymium,
praseodymium, dysprosium and terbium to supply accelerating demand from
electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag Ltd and a 90 per cent
direct and indirect interest (assuming conversion of Maginito's convertible
loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in
the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare
Earths UK Ltd ("Mkango UK"), focused on long loop rare earth magnet recycling
in the UK via a chemical route.

Maginito and CoTec are also rolling out Hydrogen Processing of Magnet Scrap
("HPMS") recycling technology into the United States via the 50/50 owned
HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project in Malawi
("Songwe") and the Pulawy rare earths separation project in Poland ("Pulawy").
Both the Songwe and Pulawy projects have been selected as Strategic Projects
under the European Union Critical Raw Materials Act. Mkango signed a business
combination agreement dated 2 July 2025 (the "BCA") with Crown PropTech
Acquisitions to list the Songwe Hill and Pulawy rare earths projects on NASDAQ
via a SPAC Merger.  Completion of the BCA remains subject to satisfaction of
certain conditions, including approval of the TSX-V.

For more information, please visit www.mkango.ca (about%3Ablank)

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service, this inside information is
now considered to be in the public domain.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of
that term under applicable securities laws) with respect to Mkango. Generally,
forward looking statements can be identified by the use of words such as
"targeted", "plans", "expects" or "is expected to", "scheduled", "estimates"
"intends", "anticipates", "believes", or variations of such words and phrases,
or statements that certain actions, events or results "can", "may", "could",
"would", "should", "might" or "will", occur or be achieved, or the negative
connotations thereof. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual performance
and results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. The forward-looking statements contained in this
news release are made as of the date of this news release. Except as required
by law, the Company disclaims any intention and assume no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by applicable law.
Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the
matters discussed above.

The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy any equity or other securities of the Company in the United
States. The securities of the Company will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") and may
not be offered or sold within the United States to, or for the account or
benefit of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.

For further information on Mkango, please contact:

 

Mkango Resources Limited

William
Dawes
Alexander Lemon

Chief Executive Officer                  President

will@mkango.ca
alex@mkango.ca

Canada: +1 403 444 5979

www.mkango.com (http://www.mkango.com)

@MkangoResources

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Jen Clarke, Devik Mehta

UK: +44 20 3470 0470

 

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 (020) 4530 9160/77

 

 

 

 

 

 

 i  (#_ednref1)
https://mkango.ca/news/hypromag-usa-enters-into-agreement-with-global-electronics-recycler-intelligent-lifecycle-solutions-for-feedstock-supply-and/

 ii  (#_ednref2)
https://mkango.ca/news/hypromag-usa-purchases-inserma-pre-processing-units-for-texas-nevada-and-south-carolina-rare-earth-magnet-recycling-hubs-in-the

 iii  (#_ednref3)
https://mkango.ca/news/hypromag-usa-expands-detailed-engineering-phase-to-include-three-hpms-vessels-and-initiates-concept-studies-for-further/

 iv  (#_ednref4) Conventional leach, extraction purification and precipitation
process

 v  (#_ednref5)
https://mkango.ca/news/hypromag-usas-iso-compliant-product-carbon-footprint-study-confirms-exceptionally-low-co-sub-2-sub-footprint-of-2.35-kg-co-sub/

 vi  (#_ednref6)
https://mkango.ca/news/hypromag-usa-to-commission-scoping-study-to-triple-capacity-in-the-united-states-expanding-into-nevada-and-south-carolina/

 vii  (#_ednref7)
https://mkango.ca/news/hypromag-usa-project-update-for-its-rare-earth-magnet-recycling-and-manufacturing-plants-in-the-united-states/

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