REG - Mkango Resources Ltd - OPENING OF HYPROMAG PLANT IN PFORZHEIM

Mkango ResourcesAnnouncement

Tue 07:00

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RNS Number : 1053C  Mkango Resources Limited  28 April 2026

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

 

 

GERMAN FEDERAL MINISTRY FOR ECONOMIC AFFAIRS AND ENERGY OFFICIALLY OPENS
HYPROMAG PLANT IN PFORZHEIM

 

London / Vancouver: April 28, 2026 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
("Mkango") is pleased to announce that its subsidiary, HyProMag GmbH
("HyProMag") will today officially open its rare earth magnet recycling and
manufacturing plant (the "Plant") in Pforzheim, Germany. The opening ceremony
will be presided over by Stefan Rouenhoff, Parliamentary State Secretary of
the Federal Ministry for Economic Affairs and Energy.

On 27 April 2026, the bilateral Germany-UK Business Government Forum took
place at the Haus der Deutschen Wirtschaft in Berlin. Katherina Reiche,
Federal Minister for Economic Affairs and Energy of Germany and The Right
Honourable Peter Kyle MP, Secretary of State for Business and Trade for the
United Kingdom signed a Joint Statement on cooperation on Critical Raw
Materials.

HyProMag featured explicitly in the declaration, as a practical demonstration
of both nations' commitment to diversifying supply chains, and in supporting
resilient, sustainable, and responsible raw material value chains to enhance
interlinkages and business collaborations. The joint declaration specifically
noted HyProMag's expansion of its rare earth magnet recycling facilities to
Germany and marks a major step in the de-risking of mutual supply chains,
along with supporting the resilience of key industries such as automotive, as
the transition to electric vehicles takes increasing effect.

The Pforzheim Plant

The Plant consists of a commercial scale rare earth sintered magnet recycling
and manufacturing line, underpinned by the patented Hydrogen Processing of
Magnet Scrap ("HPMS") technology, developed at the University of Birmingham
("UoB") and exclusively licensed to HyProMag.

The Plant site is fully permitted for production of up to 750 tonnes per annum
of neodymium-iron-boron ("NdFeB") magnets and alloys.

Once fully commissioned, the Plant will have a minimum initial capacity of
approximately 100 tonnes per annum of NdFeB increasing to up to circa 350
tonnes per annum. A further scale-up to 750 tonnes per annum is currently
under evaluation, and HyProMag GmbH is targeting a phased scale-up to this
production level over the next three years.

First commissioning runs of the HPMS reactor were successfully completed, with
sequential commissioning of other major equipment underway, as announced on 9
April 2026: First Commissioning Runs Completed
(https://mkango.ca/news/first-commissioning-runs-for-magnet-recycling-technology-successfully-completed-at-hypromag-germany/)
.

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V Stock Exchanges. 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 Ltd ("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 expanding HPMS recycling technology into the
United States via the 50/50 owned HyProMag USA joint venture company.

Mkango currently owns 100% of the advanced stage Songwe Hill rare earths
project in Malawi and the proposed Puławy rare earths separation plant in
Poland. Both the Songwe and Puławy projects have been selected as Strategic
Projects under the European Union Critical Raw Materials Act. Songwe has also
received Development Funding from the U.S. International Development Finance
Corporation (DFC), the U.S. Government's development finance institution,
securing US$4.6 million in reimbursable funding for Front End Engineering and
Design. Mkango signed a Business Combination Agreement with Crown PropTech
Acquisitions to list the Songwe Hill and Puławy 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
"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, the recycling plants being developed by Maginito in the
UK, Germany and the US (the "Maginito Recycling Plants"), 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 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
Maginito's 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 Maginito Recycling Plants and Pulawy, and
future investments in the United States pursuant to the proposed cooperation
agreement between Maginito and CoTec, cost overruns, complexities in building
and operating the plants, and the positive results of feasibility studies on
the various proposed aspects of Mkango's and Maginito'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 because 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.

For further information on Mkango, please contact:

 

Mkango Resources Limited

 

William
Dawes

Chief Executive Officer

will@mkango.ca (mailto:will@mkango.ca)
 

 

Alexander Lemon

President

alex@mkango.ca (mailto:alex@mkango.ca)

 

Canada: +1 403 444 5979

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

@MkangoResources

 

Montfort Communications

Ann-marie Wilkinson, Jack Hickman

UK: +44 20 3514 0897

mkango@montfort.london

 

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 20 4530 9160/9177

 

H&P Advisory Limited

Joint Broker

Andrew Chubb, Leif Powis, Jay Ashfield

UK: +44 20 7907 8500

 

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.

 

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