Mkango Resources #MKA

Mkango subsidiary #HyProMag commissions 2nd Inserma unit @TyseleyEnergy in Birmingham - groundbreaking technology for recycling of #RareEarths & precious metals from Hard Disk Drives @innovateuk #MKA @CMA_Minerals @REIA_global #MineralsSecurityPartnership @unibirmingham @EITRawMaterials #CRMA @Share_Talk mkango.ca/site/assets/fi… vimeo.com/1171082625

@MkangoResources has launched a rare earth magnet recycling and manufacturing facility at @TyseleyEnergy  in Birmingham, UK. Marking the UK’s first commercial rare earth magnet production in 25 years. This development provides a strong platform for further scale-up for #MKA in the #UK and international roll-out, already underway in #Germany and the #USA, with other countries being assessed for further expansion with @CoTecCorp William Dawes, Chief Executive of Mkango and Director of #HyProMag commented: “This is a landmark achievement and transformational for rare earth supply chains, bringing back magnet manufacturing to the UK after 25 years and is underpinned by a home-grown technology, HPMS, that not only delivers a cost advantage, but has a minimal carbon footprint. Since Mkango’s first investment in HyProMag in 2020 and HyProMag UK’s ongoing collaboration with the @unibirmingham as the commercial partner and exclusive licensee, it is fantastic to see HPMS technology progress to commercialisation with the support of Innovate UK and ongoing collaboration with the University of Birmingham and is a credit to the vision and determination of everyone involved.

What a time for @MkangoResources #MKA to become the first commercial producer of NdFeB magnets in the UK after a 25-year hiatus. Neodymium is breaking out (+7% over past two sessions), catalyzed both by extreme geopolitical developments over the past year and by demand ratcheting up from data centres, robotics, military applications, electronics, EVs, etc. HyProMag Germany - a very similar sized and designed plant to the Birmingham site - is also being commissioned at the moment. Using the pricing in the most recent HyProMag USA studies ($95/kg average selling price), each of the UK and Germany operations will be generating circa $33m revenue per annum, once nameplate capacity of 350 tonnes pa is achieved. Assuming a conservative 40% EBITDA margin (the larger US plants are now estimated to operate at a 60% EBITDA margin), the two European plants will be generating a combined $26-27m EBITDA pa. Moreover, HyProMag has stated it intends to scale up UK capacity from 350 tpa to 1,000 tpa; and German capacity to 750 tpa. Mkango also reiterates in today's RNS that it's evaluating expansion plans into Japan, Canada and South Korea, which would bring operations (including the upstream assets in Malawi and Poland) to eight nations - giving Mkango by far the largest international footprint of any rare earth elements company in the world. A hidden gem that I am quite sure the international investment community will pick up on soon enough - especially with the industry really hotting up again, and with $MKAR to list on NASDAQ in the next couple of months.

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