Mkango Resources Ltd (LSE:MKA) has agreed to acquire the Remloy rare earth magnet recycling business from Heraeus Amloy Technologies GmbH for €8 million in cash.
The transaction is expected to complete during the summer of 2026, subject to regulatory approvals, and will be partly financed using proceeds from a recent equity fundraising.
The Bitterfeld facility in Germany is fully commissioned and specialises in recycling end-of-life magnets through a melting process that produces NdFeB alloy powders. Initial commercial sales are targeted before the end of the year, with plans to scale production capacity to around 500 tonnes of alloy annually over the medium term.
Expanding integrated recycling operations
The acquisition also includes a 300-tonne inventory of rare earth magnets and alloys, strengthening Mkango’s recycling platform alongside its existing German operation, HyProMag GmbH.
Management said the deal enhances the company’s “one-stop-shop” offering across sintered, bonded and hot-deformed magnet markets while creating opportunities for operational synergies with limited additional capital expenditure requirements.
Mkango also intends to combine future primary feedstock from its Songwe Hill project with recycled material streams, a strategy designed to improve supply security for European and international customers seeking sustainably sourced rare earth materials.
More about Mkango Resources
Mkango Resources Ltd is a dual-listed rare earths business focused on recycled rare earth magnets, alloys and oxides through its Maginito subsidiary and associated HyProMag recycling operations in the UK, Germany and the United States.
The company also owns the advanced Songwe Hill rare earths project in Malawi and the planned Puławy separation facility in Poland. Both projects have been designated as Strategic Projects under the EU Critical Raw Materials Act and are intended to support supply chains linked to electric vehicles, wind power and clean energy technologies.
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