LONDON, UK / VANCOUVER, BC / ACCESSWIRE / January 3, 2024 /
CoTec Holdings Corp. and
Mkango Resources Ltd. are pleased to announce that CoTec and Maginito Limited have formed a 50/50 joint venture entity which will roll out HyProMag Limited's Hydrogen Processing of Magnet Scrap recycling technology into the United States. The newly formed joint venture company, HyProMag USA, LLC , plans to develop a low cost, low carbon, sustainable rare earth magnet recycling and production business underpinned by HPMS. HyProMag has sublicenced the HPMS technology to HyProMag USA. HyProMag is 100 per cent owned by Maginito, which is owned on a 79.4/20.6 per cent basis by Mkango and CoTec, and is commercialising rare earth magnet recycling in the UK, Germany and United States. R...