General Chat / Discussion, page-9767

First mover status in the UK, with MSP and Government support.

MKANGO RESOURCES LTD.

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Canada
24 July 2024

HYPROMAG COMMISSIONING UPDATE FOR THE UK'S FIRST COMMERCIAL SCALE RARE EARTH MAGNET RECYCLING AND MANUFACTURING PLANT AT TYSELEY ENERGY PARK IN BIRMINGHAM

Highlights

· Commissioning of the short-loop magnet recycling and manufacturing plant at Tyseley Energy Park is continuing to advance with past and upcoming major milestones as follows:

o Magnet manufacturing presses delivered and commissioned in December 2023

o Powder processing (sieving, blending, jet milling) plant delivered in July 2024

o Hydrogen Processing of Magnet Scrap (HPMS) vessel expected to be delivered in September 2024

o Infrastructure development by the contractors expected to commence in September 2024, with start-up of commercial operations now expected in Q1 2025

o The permitting process for commercial operations is well underway and proceeding as expected

· The plant is being commissioned by the University of Birmingham with the support of HyProMag, the main industrial partner for the project and exclusive HPMS licencee

· Initial commercial production is expected at an approximate rate of 25 - 30 tonnes per year of recycled NdFeB based on 20% capacity utilisation for the first few months, with approximately two months of NdFeB scrap supply currently in inventory

· The main commercial product will initially be a recycled NdFeB alloy for magnet manufacturing or for chemical processing by third parties - this will be supplemented with production of recycled sintered NdFeB magnet blocks for product qualification purposes to support ongoing HyProMag customer discussions and further scale-up

· The product suite will have a minimal carbon footprint, reflecting the highly energy efficient combination of HPMS with short-loop magnet manufacturing, with typical product specifications to be issued by HyProMag in due course

· The production potential at Tyseley is significantly higher, with potential for a minimum of 100-330 tonnes per year of recycled NdFeB at full capacity, as well as opportunities to expand production of sintered blocks and finished magnets, and significantly larger scale-up scenarios currently being evaluated

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