HyProMag USA purchases Inserma pre-processing units for US rare earth magnet recycling hubs
Mkango Resources Ltd (AIM/TSX-V: MKA) announced that its subsidiary, HyProMag USA, has acquired three skid-mounted magnet and printed circuit board (PCB) separation units from Inserma Anoia S.L.
The units, which can be co-located at data centres, shredding and recycling sites, or HyProMag facilities, can extract the voice coil motor from a hard disk drive in under two seconds. This provides a concentrated feedstock for hydrogen processing of magnet scrap (HPMS) at HyProMag USA’s Texas facility.
In addition to rare earth magnets, the technology package enables separation of PCBs, which contain precious metals for recycling and resale. The three units will be operated by Intelligent Lifecycle Solutions (ILS) and will support stockpiling of feedstock for HyProMag’s Fort Worth hub.
Julian Treger, Chief Executive of CoTec commented: “We are very excited to see the rapid development of the Inserma partnership. Pre-processing technologies are a key enabler and competitive advantage for HyProMag USA as it progresses with the purchase of feedstock. The Company is continuing to progress its discussions with the rapidly expanding hyperscale data center providers and offers a closed loop and secure recycling network within the United States at the lowest cost and lowest carbon footprint. Furthermore, the batch process design of the Texas facility with separate individual feedstock waste streams supports consistent finished grades of magnets and blocks.
Will Dawes, Mkango CEO commented: “The combination of HPMS and Inserma technologies delivers a cost effective, low CO2 and flexible solution for the recycling of rare earth magnets from HDDs, utilised in hyperscale data centres and other applications. These technologies, coupled with the very significant AI driven growth anticipated for hyperscale data centres, will unlock additional sources of feedstock to support HyProMag’s rapid growth profile. The latter is further supported by accelerating demand for HyProMag’s recycled rare earth magnet products, geared to growth in physical AI, electric mobility, clean energy and other applications, together with a geopolitical backdrop driving Government supported development of independent and robust domestic supply chains.”
For more information, please visit www.mkango.ca
