Mkango Resources Ltd (LSE:MKA) has reported a significant expansion in magnet production capacity at HyProMag USA’s Texas Hub, a move that materially enhances the project’s economics and strengthens the domestic supply of critical materials in the United States.
Following the capacity increase, the project’s post-tax net present value has risen to around US$780 million based on forecast pricing assumptions. The expansion is expected to play a role in rebuilding the U.S. rare earth magnet industry while supporting domestic critical-minerals supply chains. In addition, the development could generate between 90 and 100 skilled jobs once fully operational.
HyProMag USA is also evaluating the possibility of pursuing a U.S. stock market listing in late 2026 or early 2027. Any such move would depend on the successful execution of the project and the completion of relevant regulatory processes.
More about Mkango Resources
Mkango Resources Ltd is listed on AIM and the TSX Venture Exchange and focuses on the production of recycled rare earth magnets, alloys and oxides. The company aims to establish itself as a leading participant in the sector through its majority ownership of Maginito Limited, which houses its magnet recycling and manufacturing activities.
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