REG - Mkango Resources Ltd - HYPROMAG USA FINALISES LONG TERM LEASE

Mkango ResourcesAnnouncement

Thu 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251211:nRSK1024La&default-theme=true

RNS Number : 1024L  Mkango Resources Limited  11 December 2025

 

 

 

 

MKANGO RESOURCES
LTD.

550 Burrard
Street

Suite
2900

Vancouver

BC V6C
0A3

Canada

 

HYPROMAG USA FINALISES LONG TERM LEASE

FOR DALLAS-FORT WORTH RARE EARTH MAGNET RECYCLING AND MANUFACTURING HUB

 

London / Vancouver: 11 December 2025 - Mkango Resources Ltd (AIM/TSX-V: MKA)
(the "Company" or "Mkango"), is pleased to announce that HyProMag USA, LLC
("HyProMag USA"), a U.S.-based leader in rare-earth recycling and processing,
has finalised a lease agreement for its proposed rare-earth magnet recycling
and manufacturing facility in Dallas-Fort Worth, Texas. HyProMag USA's first
facility (the "Texas Facility" or the "Project") will be located at Ironhead
Commerce Center, Building 1, Dallas-Fort Worth, Denton County, Texas. This
Project site is strategically located next to critical infrastructure, the
BNSF intermodal rail link and the Alliance airport. The milestone marks the
next phase in HyProMag USA's Project expansion and underscores its commitment
to building a fully domestic, circular supply chain for rare-earth magnets
critical to revitalising U.S. industry and to provide a long-term domestic
supply of critical minerals.

 

The Texas Facility will leverage the patented Hydrogen Processing of Magnet
Scrap ("HPMS") technology - developed by the Magnetic Materials Group at the
University of Birmingham with over 25 years of R&D and exclusively
licensed to HyProMag Limited, a 50% partner in HyProMag USA, to recover and
remanufacture rare earth magnets from end-of-life products. HyProMag USA
targets commissioning the Texas Facility by mid-2027, subject to final
permitting and financing, and anticipates creating approximately 90 to 100
skilled jobs in magnet manufacturing, engineering and advanced materials
processing. HyProMag USA has collaborated closely with the Town of Northlake
to advance the Texas Facility. Additionally, the Company has also established
and expanded its feedstock-supply partnership with Intelligent Lifecycle
Solutions ("ILS"), a global electronics recycling company, which has commenced
stockpiling magnet-bearing materials to support commissioning of HyProMag's
U.S. operations i  (#_edn1) .

HyProMag USA will occupy 50 percent of Building 1 at Ironhead Commerce Center,
approximately 128,000 square feet. The Texas Facility will serve as the
central hub of HyProMag USA's hub-and-spoke short-loop network, which includes
planned pre-processing facilities in Nevada and South Carolina. The Project's
modular design allows for faster replication across the U.S., providing a more
scalable blueprint for restoring rare-earth magnet production and reducing
reliance on overseas sources.

Julian Treger, CoTec CEO commented: "Finalising the Texas Facility lease
represents another major milestone in HyProMag USA's mission to deliver a
secure, sustainable rare-earth magnet supply chain in the United States. With
the site secured and local partnerships in place, we're moving decisively
toward completing financing, construction and the first commercial-scale
production of recycled magnets in the United States."

Will Dawes, Mkango CEO & HyProMag USA Director commented: "The Texas
Facility being developed by HyProMag USA will help to transform rare-earth
supply chains in the United States. Together with our partners, we're building
the foundation for a resilient domestic magnet sector that supports the next
generation of clean energy and technology manufacturing."

A fly over of the facilities location can be found at
https://youtu.be/J8RHkZSfo0Y (https://youtu.be/J8RHkZSfo0Y)

HyProMag USA Feasibility Study

The independent Feasibility Study on the development of a state-of-the-art
rare-earth magnet recycling and manufacturing operation in the U.S. includes
the Texas Facility, and two pre-processing facilities located in South
Carolina and Nevada ii  (#_edn2) . 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) As reported in the
Feasibility Study, the Texas Facility's annual production is estimated to be
750 metric tons per annum of recycled sintered neodymium-iron-boron ("NdFeB")
magnets and 807 metric tons per annum of associated NdFeB co-products (total
payable capacity - 1,557 metric tons NdFeB within five years of commissioning)
over a 40-year operating life. It is expected that the Texas Facility will
provide significant optionality to supply the U.S. market with additional
NdFeB alloy powder while assisting in revitalizing the U.S. magnet sector with
the anticipated creation of approximately 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 a 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) and 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 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
and the Pulawy rare earths separation project in Poland. 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  with Crown Prop Tech Acquisitions ("CPTK") to
list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC
Merger under the name Mkango Rare Earths Limited.

 

For more information, please visit www.mkango.ca

 

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

 

H&P Advisory Limited

Joint Broker

Andrew Chubb, Leif Powis, Jay Ashfield

UK: +44 20 7907 8500

 

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

 ii  (#_ednref2)
https://mkango.ca/news/hypromag-usa-feasibility-study-demonstrates-robust-economics-and-the-opportunity-to-develop-a-major-new-domestic-source-of/

 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/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGPGMAPUPAPPU



            Copyright 2019 Regulatory News Service, all rights reserved