Mkango Resources Limited (AIM / TSX-V:MKA) has reported its full-year 2025 results, highlighting progress across both its mining and recycling operations alongside a solid cash position of $3.1 million.
The company confirmed the filing of an updated NI 43-101 technical report for its Songwe Hill Rare Earths Project in Malawi. The revised definitive feasibility study outlines a post-tax net present value (NPV) of approximately $339 million, reinforcing the project’s economic potential.
Mkango also continues to advance its magnet recycling strategy through HyProMag Ltd, which produced 9.2 tonnes of recycled NdFeB alloy powder in the UK during the period. In Europe, HyProMag GmbH has begun commissioning runs, while in the US, the proposed HyProMag facility in Dallas-Fort Worth is projected to deliver a post-tax NPV of around $780 million based on forecast pricing assumptions.
Further expansion plans are underway, with concept studies progressing for additional recycling facilities in South Carolina and Nevada, supporting Mkango’s strategy to build a global rare earth magnet recycling platform.
A lease agreement for HyProMag USA’s proposed rare-earth magnet recycling and manufacturing facility in Dallas-Fort Worth, Texas was signed in December 2025. The site, located at the Ironhead Commerce Center, Building 1, is strategically located next to critical infrastructure, including the BNSF intermodal rail link and the Alliance airport as illustrated in the following fly through video: https://www.youtube.com/watch?v=xNmJF3Hh1Mk
In downstream processing, the proposed rare earth separation plant in Puławy, Poland, carries an estimated post-tax NPV of approximately $779 million, underscoring the scale of potential value creation across the company’s integrated supply chain.
Overall, the update reflects continued execution across Mkango’s vertically integrated rare earths strategy, spanning mining, recycling, and processing, with multiple high-value projects advancing in parallel.
