REG - Mkango Resources Ltd - HYPROMAG USA TO COMMENCE PREPARATORY WORK

Mkango ResourcesAnnouncement

03/06/2026 12:00

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RNS Number : 8629G  Mkango Resources Limited  03 June 2026

 

 

 

 

 

MKANGO RESOURCES
LTD.

550 Burrard
Street

Suite
2900

Vancouver

BC V6C
0A3

Canada

 

 

 

HYPROMAG USA TO COMMENCE PREPARATORY WORK FOR PROJECT EXECUTION PHASE AT
DALLAS-FORT WORTH TEXAS HUB

 

● Preparatory work for project execution phase to commence at HyProMag USA's
Dallas-Fort Worth site, with the lease now fully in effect

● Parallel advancement of detailed engineering, procurement, feedstock
sourcing and customer engagement efforts

 

London/Vancouver:  3 June, 2026 - Mkango Resources Ltd (AIM / TSX-V:MKA)
("Mkango") is pleased to announce an update from HyProMag USA, LLC ("HyProMag
USA" or "the Company"). HyProMag USA, a  U.S.-based rare earth magnet
recycling and manufacturing company, today announced that it has taken
occupation of its approximately 125,000-square-foot Dallas-Fort Worth facility
for what is expected to become the Company's first integrated rare earth
magnet recycling and manufacturing hub in the United States.

 

The facility, located at Ironhead Commerce Center in Denton County, Texas,
will serve as the central hub of HyProMag USA's domestic rare earth magnet
recycling platform and support the Company's broader hub-and-spoke strategy,
which includes established
(https://hypromagusa.com/hypromag-usa-and-intelligent-lifecycle-solutions-commission-inserma-rare-earth-magnet-pre-processing-system-in-south-carolina/)
feedstock pre-processing operations in South Carolina and Nevada at
Intelligent Lifecycle Solutions ("ILS") sites.

 

With the lease now in effect, HyProMag USA will begin establishing an
operational presence at the site, including installation of communications
infrastructure, security systems and other foundational requirements to
support project execution activities.

 

Julian Treger, CEO of CoTec Holdings Corp (supporting HyProMag USA),
commented: "Taking occupation of the Texas Hub is transformational for
HyProMag USA. With the facility now under our control, our focus is on
advancing detailed engineering, securing long-lead equipment, expanding
feedstock and offtake partnerships of what we believe will become a
cornerstone of the domestic rare earth magnet supply chain. The facility is
strategically located in the heart of the Dallas-Fort Worth innovation
corridor with excellent access to transportation, logistics and critical
infrastructure. We are excited to begin establishing our presence at the site
and advancing the project toward construction and commissioning."

 

Will Dawes, CEO of Mkango Resources and Director of HyProMag USA, commented
"We are excited to announce this further milestone as we advance towards
project development in USA. HyProMag USA is well positioned as a future magnet
producer with significant competitive advantages, underpinned by domestic
feedstock derived via its proprietary HPMS and Inserma technologies in
conjunction with ILS, as well as the opportunity to leverage off existing
HyProMag recycling and magnet manufacturing operations in UK and
Germany."

 

The Dallas-Fort Worth facility is expected to utilize HyProMag's patented
Hydrogen Processing of Magnet Scrap ("HPMS") technology to recover and
manufacture neodymium-iron-boron ("NdFeB") rare earth magnets from end-of-life
products and manufacturing scrap.

 

Once fully operational, the facility is expected to manufacture approximately
941 metric tons per annum of recycled sintered neodymium-iron-boron ("NdFeB")
magnets and 611 metric tons per annum of associated NdFeB co-products (total
payable capacity - 1,552 metric tons NdFeB) over a 40-year operating life
supporting growing demand from sectors including artificial intelligence
infrastructure, robotics, electric vehicles and advanced manufacturing.

 

The U.S. buildout is expected to create approximately 90 to 100 skilled jobs
and play an important role in strengthening domestic supply chains for rare
earth magnets and critical materials in the United States.

 

A flyover of the facility location and recent 3D Plant model can be viewed
here: https://www.youtube.com/watch?v=xNmJF3Hh1Mk
(https://www.youtube.com/watch?v=xNmJF3Hh1Mk)

 

About HyProMag USA

 

HyProMag USA is developing advanced rare earth magnet recycling and
manufacturing operations to establish a secure domestic U.S. supply chain for
NdFeB magnets, essential components for AI infrastructure, defense systems,
robotics, electric vehicles, and advanced electronics. Leveraging the
revolutionary HPMS technology, developed over 15 years by the Magnetic
Materials Group at the University of Birmingham with more than $100 million in
R&D investment, the company delivers faster magnet-to-magnet short-loop
recycling that uses 88% less energy and reduces carbon emissions by 85%
compared to conventional methods. HPMS accepts a wide range of magnet-bearing
feedstocks - including end-of-life EV motors, data-center, and industrial
equipment, consumer electronics, and manufacturing scrap - enabling recovery
of magnet-grade material without chemical processing. Selected by the U.S.
Department of State as a Minerals Security Partnership project, HyProMag USA
is targeting 10% of U.S. domestic magnet supply within five years, ensuring
supply chain security and resilience for technologies critical to national
defense and economic competitiveness.

 

Ownership

 

HyProMag USA LLC is owned 50:50 by CoTec Holdings Corp. (TSXV: CTH; OTCQX:
CTHCF) ("CoTec") and HyProMag Limited. HyProMag Limited is 100% owned by
Maginito Limited which is owned on a 79.4%/20.6% basis by Mkango Resources
Ltd. (AIM/TSX-V: MKA) and CoTec.

 

For more information, please visit www.hypromagusa.com
(http://www.hypromagusa.com)

 

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSXV. 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, which is owned 79.4 per
cent by Mkango and 20.6 per cent by 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 Limited 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
("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 has signed a
business combination agreement ("Business Combination Agreement") with Crown
PropTech 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 (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. Such factors and risks include, without limiting
the foregoing, the availability of (or delays in obtaining) financing to
develop Songwe Hill, and the various recycling plants in the UK, Germany and
the US as well as the separation plant in Poland, governmental action and
other market effects on global demand and pricing for the metals and
associated downstream products for which Mkango is exploring, researching and
developing, geological, technical and regulatory matters relating to the
development of Songwe Hill, the various recycling plants in the UK, Germany
and the US as well as the separation plant in Poland, the ability to scale the
HPMS and chemical recycling technologies to commercial scale, competitors
having greater financial capability and effective competing technologies in
the recycling and separation business of Maginito and Mkango, availability of
scrap supplies for recycling activities, government regulation (including the
impact of environmental and other regulations) on and the economics in
relation to recycling and the development of the various recycling and
separation plants of Mkango and Maginito and future investments in the United
States pursuant to the cooperation agreement between Maginito and CoTec, the
outcome and timing of the completion of the feasibility studies, cost
overruns, complexities in building and operating the plants, and the positive
results of feasibility studies on the various proposed aspects of Mkango's,
Maginito's and CoTec's activities. 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

Caroline Rowe, Jen Clarke, Devik Mehta

UK: +44 20 3470 0470

 

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 (020) 4530 9160/9177

 

H&P Advisory Limited

 

Joint Broker

Andrew Chubb, Leif Powis, Jay Ashfield

UK: +44 20 7907 8500

 

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