First Commissioning Runs FOR Magnet Recycling Technology Successfully Completed at Hypromag Germany
MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
FIRST COMMISSIONING RUNS FOR MAGNET RECYCLING TECHNOLOGY SUCCESSFULLY COMPLETED
AT HYPROMAG GERMANY
London / Vancouver: April 9, 2026 – Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Mkango”) is pleased
to announce that HyProMag GmbH has completed the first commissioning runs for the commercial
scale Hydrogen Processing of Magnet Scrap (“HPMS”) vessel at its rare earth magnet recycling and
manufacturing plant (the “Plant”) located in Pforzheim, Germany. The Plant consists of a commercial
scale rare earth sintered magnet recycling and manufacturing line, underpinned by the patented
HPMS technology. The Plant is fully permitted for production of up to 750 tonnes per annum of
neodymium-iron-boron (“ NdFeB”) magnets and alloys, and HyProMag GmbH is targeting phased
scale-up to this level over the next three years.
Development of the Plant was partly funded by the European Regional Development Fund and the
Ministry of Economic Affairs, Labour, and Tourism Baden-Württemberg.
An opening ceremony of the Plant is scheduled for April 28, 2026 and will be presided over by the
German Federal Ministry for Economic Affairs and Energy.
The HPMS vessel is fundamental to the Plant, producing a high grade, recycled NdFeB alloy
powder for commercial sale and to feed the downstream magnet manufacturing line.
The jet mill for processing of NdFeB alloy powder for magnet manufacturing has been
installed, and commissioning will be completed in the coming weeks.
Other major equipment for the Plant, including the transverse alignment press and the
sintering furnace for manufacturing of sintered magnet blocks, have been delivered, with
installation and commissioning taking place sequentially.
The expansion and upgrade of the Plant infrastructure have been completed, including the
installation of gas storage facilities (gas tank and storage systems) and the power supply
upgrade through a new transformer station.
Once fully commissioned, the Plant will have a minimum initial capacity of approximately 100
tonnes per annum of NdFeB increasing to up to circa 350 tonnes per annum with multiple
shifts. A further expansion to a targeted 750 tonnes per annum is under evaluation.
HyProMag is engaging with multiple customers for NdFeB alloy powder and magnets on an
ongoing basis to support the scale-up of operations.
Will Dawes, Chief Executive Officer of Mkango commented: “This is a major milestone for HyProMag,
creating a strong platform for further scale-up at our site in Pforzheim and beyond. We continue to
evaluate complementary acquisition and organic growth opportunities in the rare earths supply chain,
and see the growing rare earths ecosystem in Germany as one of the cornerstones of our growth
strategy. With the rare earth magnet recycling and manufacturing plants being scaled-up and
developed by HyProMag in UK and USA, and Mkango’s advanced stage rare earth mining and
separation projects in Malawi and Poland, we are well positioned to provide customers with a one-
stop-shop solution for rare earth products across the supply chain.”
Nelson Brito, Managing Director of HyProMag GmbH commented: “ With first commissioning of the
HPMS vessel successfully completed, we are now entering the next phase of scaling operations and
delivering high-quality recycled NdFeB materials to the market. This milestone represents a significant
step towards strengthening Europe’s strategic autonomy in rare earth supply, reducing external
dependencies and supporting the objectives of EU industrial and climate policy. HyProMag is proud to
contribute to building a resilient, sustainable and sovereign rare earth value chain in Europe.”
Carlo Burkhardt, Founding Director of HyProMag GmbH commented: “I am delighted to see the Plant
progress to this stage of development, and look forward to welcoming all stakeholders and supporters
of the project to the site on 28th April. We are excited for the next stages of development and optimistic
we can make a real difference to the development of more robust supply chains in Europe.”
The NdFeB product from HPMS has a total rare-earth content (neodymium/praseodymium together
with dysprosium/terbium) exceeding 28% which is analogous to the typical NdFeB alloy content
specification for magnet manufacture, whilst, as a recycled product, having a significantly lower CO 2
footprint relative to both primary (mined) and other recycled (chemical / long loop) NdFeB products.
HPMS technology was developed by the Magnetic Materials Group at the University of Birmingham
(“UoB”) and is underpinned by approximately US$100 million of research and development funding.
HyProMag is the exclusive licensee of HPMS technology from the UoB.
HyProMag GmbH was established to commercialise HPMS technology in Germany and the European
Union, to further support policy initiatives to strategically strengthen European rare earth supply
chains and to accelerate the green transition. First commissioning is a major milestone in the
execution of this strategy.
HPMS Vessel (left) & Jet Mill (right)
Installed: Transverse Alignment Press (left) & Gas storage and power supply (right)
Expanded development plan
Global Recycling and Magnet Manufacturing Strategy
In parallel with development of the Plant in Germany, HyProMag is commercialising HPMS technology
in the UK and the USA, and is also evaluating other jurisdictions including Japan, Canada and South
Machining
Analytical laboratory
Packaging
Powder Production
Magnet production
Korea. In the UK, a rare earth magnet recycling and manufacturing plant has been developed at
Tyseley Energy Park, Birmingham in conjunction with the University of Birmingham, with initial
production underway.
HyProMag USA LLC (“HyProMag USA”) has completed a feasibility study for a large-scale rare earth
magnet recycling and manufacturing operation in the USA, with detailed engineering work underway
and first production targeted in 2027.
About Mkango Resources Ltd.
Mkango is listed on the AIM and the TSX-V Stock Exchanges. Mkango’s corporate strategy is to become
a market leader in the production of recycled rare earth magnets, alloys and oxides, through its
interest in Maginito Limited (“Maginito”), which is owned 79.4 per cent by Mkango and 20.6 per cent
by CoTec Holdings Ltd (“CoTec”), and to develop new sustainable sources of neodymium,
praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind
turbines and other clean energy technologies.
Maginito holds a 100 per cent interest in HyProMag Limited and a 90 per cent direct and indirect
interest (assuming conversion of Maginito’s convertible loan) in HyProMag GmbH, focused on short
loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in
Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the
UK via a chemical route.
Maginito and CoTec are also expanding HPMS recycling technology into the United States via the
50/50 owned HyProMag USA joint venture company.
Mkango currently owns 100% of the advanced stage Songwe Hill rare earths project in Malawi and the
proposed Puławy rare earths separation plant in Poland. Both the Songwe and Puławy projects have
been selected as Strategic Projects under the European Union Critical Raw Materials Act. Songwe has
also received Development Funding from the U.S. International Development Finance Corporation
(DFC), the U.S. Government’s development finance institution, securing US$4.6 million in
reimbursable funding for Front End Engineering and Design. Mkango signed a Business Combination
Agreement with Crown PropTech Acquisitions to list the Songwe Hill and Puławy rare earths projects
on NASDAQ via a SPAC Merger under the name Mkango Rare Earths Limited.
For more information, please visit www.mkango.ca
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The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication
of this announcement via Regulatory Information Service, this inside information is now considered
to be in the public domain.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements (within the meaning of that term under
applicable securities laws) with respect to Mkango. Generally, forward looking statements can be
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forward-looking statements will not occur, which may cause actual performance and results in future
periods to differ materially from any estimates or projections of future performance or results
expressed or implied by such forward-looking statements. Such factors and risks include, without
limiting the foregoing, , the availability of (or delays in obtaining) financing to develop Songwe Hill, the
recycling plants being developed by Maginito in the UK, Germany and the US (the “Maginito Recycling
Plants”), governmental action and other market effects on global demand and pricing for the metals
and associated downstream products for which Mkango is exploring, researching and developing,
geological, technical and regulatory matters relating to the development of Songwe Hill, the ability to
scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater
financial capability and effective competing technologies in the recycling and separation business of
Maginito and Mkango, availability of scrap supplies for Maginito’s recycling activities, government
regulation (including the impact of environmental and other regulations) on and the economics in
relation to recycling and the development of the Maginito Recycling Plants and Pulawy, and future
investments in the United States pursuant to the proposed cooperation agreement between Maginito
and CoTec, cost overruns, complexities in building and operating the plants, and the positive results
of feasibility studies on the various proposed aspects of Mkango’s and Maginito’s activities. The
forward-looking statements contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any intention and assume no obligation to
update or revise any forward-looking statements, whether because of new information, future events
or otherwise, except as required by applicable law. Additionally, the Company undertakes no
obligation to comment on the expectations of, or statements made by, third parties in respect of the
matters discussed above.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes
Chief Executive Officer
Alexander Lemon
President
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
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