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HyProMag successfully extracts rare earths from audio products

30th September 2021

By: Creamer Media Reporter

     

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HyProMag, a company in which Mkango subsidiary Maginito holds a stake, has successfully recycled rare earth magnets from loudspeakers in vehicles and flat screen televisions.

Recycling rare earth magnets creates a low-energy impact feedstock, which would otherwise be lost to landfill. Loudspeakers account for about 20% of the current market for rare earth magnets.

The recycling process is underpinned by a UK-grown technology, hydrogen processing of magnet scrap, or HPMS, and presents an opportunity for the UK to fast-track the development of competitive rare earth magnet production.

The project also included European Metal Recycling and University of Brimingham and was funded through a grant from the Industrial Strategy Challenge Fund, delivered by UK Research and Innovation.

Dual-listed Mkango, which is developing the Songwe Hill rare earths project in Malawi, holds a 25% stake in HyProMag through its subsidiary Maginito and has an option to increase this to 49%.

Maginito has the first right to supply primary production, if required for blending with recycled production from HyProMag, as well as product offtake and marketing rights.

Edited by Creamer Media Reporter

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