News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service email:shxtb@163.com
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

Mkango subsidiary acquires initial interest in magnet recycler

The date of: 2020-01-13
viewed: 0

source:Mining Review

Maginito has invested an initial £300,000 for a 25% interest in HyProMag and has an option to invest a further £1 million to increase its interest up to 49%.

Maginito is 75.5% owned by Mkango, which is completing a Feasibility Study for the Songwe Hill rare earths project in Malawi, and 24.5% owned by Talaxis, a wholly owned subsidiary of Noble 

Group focused on technology metals investment and development.

Read more mining in East Africa

Maginito is a related party of Mkango, Talaxis and Noble.

Consistent with Maginito's strategy focused on downstream opportunities relating to the rare earths supply chain.

The transaction will generate potential synergies, such as first right to supply primary production if required for blending with recycled production from HyProMag, as well as product offtake and marketing rights.

This will lead to enhanced marketing flexibility and access to downstream markets for rare earth permanent magnets, which are critical materials for electric vehicles, wind turbines, consumer electronics and other technology applications.

Read: Mkango Resources: a ravenous appetite for rare earths

William Dawes, CE of Mkango states:

'We are very pleased to become a substantial shareholder of HyProMag via Maginito and look forward to working with the HyProMag team, supporting the future growth of the company and development of this very exciting technology.

“We see rare earth magnet recycling as a major growth industry, complementing the development of new sustainable primary production, such as Mkango's advanced stage Songwe Hill rare earths project in Malawi.

“This investment further enhances Mkango's role in developing a robust and sustainable electric vehicle and clean technology supply chain for global markets.'

Daniel Mamadou, Executive Director of Talaxis says:

'Our investment in HyProMag marks an exciting step for Maginito and for Talaxis.

“We are proud to be part of a project that has the potential to revolutionise the magnet recycling sector and support the growing global shift towards renewable energy and electric vehicles.

“This investment further strengthens our position as the supply partner of choice in the technology metals industry and underlines Noble's wider commitment to decarbonisation and sustainability.'



Hot News / Related to recommend
  • 2025 - 07 - 04
    Click on the number of times: 0
    来源:ACS PublicationsThe AM2Pn2 (A= Ca, Sr, Ba, Yb, Mg; M = Zn, Cd, Mg; and Pn = N, P, As, Sb, Bi) family of Zintl phases has been known as thermoelectric materials and has recently gained much attentio...
  • 2025 - 07 - 03
    Click on the number of times: 1
    Defects and Defect Association Determine the Actual Entropy of Perovskites Derived from Lanthanum–Calcium Ferrite来源:ACS PublicationsPerovskites La1/2Ca1/2Mn1/3Fe1/3Co1/3O3−δ and iron-rich La3/4Ca1/4Mn...
  • 2025 - 07 - 02
    Click on the number of times: 0
    来源:ACS PublicationsSolid-state sodium batteries operating at ambient temperatures are promising alternatives to liquid electrolyte batteries, offering improved safety and higher energy density. Among ...
  • 2025 - 07 - 01
    Click on the number of times: 0
    来源:ACS PublicationsThe oxidation state +2 is of interest in rare-earth chemistry since it allows these conventionally redox-inactive metals to be used as reducing agents. However, the divalent oxidati...
  • Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.2020034223
    the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center
    犀牛云提供云计算服务