Hypromag USA Expands Feedstock Supply Agreement with Global Electronics Recycler, Intelligent Lifecycle Solutions
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MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
HYPROMAG USA EXPANDS FEEDSTOCK SUPPLY AGREEMENT
WITH GLOBAL ELECTRONICS RECYCLER, INTELLIGENT LIFECYCLE SOLUTIONS
London / Vancouver: 19 November 2025 – Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Mkango” or the
“Company”) is pleased to announce that HyProMag USA, LLC (“HyProMag USA”) has expanded its feedstock supply
agreementi with global electronics recycling company, Intelligent Lifecycle Solutions, LLC (“ILS”) (the “Supply
Agreement”).
ILS is currently securing and storing neodymium iron boron (“NdFeB”) feedstock from hard disk drives (“HDDs”) at
the ILS pre-processing sites in Williston, South Carolina and Reno, Nevada (the “ILS pre-processing sites”) in advance
of the commissioning of HyProMag USA’s advanced stage rare earth magnet recycling and manufacturing plant to
be located in Fort Worth, Texas.
In addition to HDDs, ILS will start to procure bulk NdFeB feedstock including rotors from electric motors, wind
turbine magnets, speaker assemblies and MRIs. ILS and HyProMag USA have agreed to create a joint “Technical
Procurement” team to accelerate all purchases and complete the onboarding of the INSERMA ANOIA SL (“Inserma”)
“3rd generation” HDD magnet separation system at its si tes. HyProMag USA is target ing delivery of the machines
to the ILS pre-processing sites by the end of December 2025ii.
Julian Treger, Chief Executive of CoTec commented : “The ILS supply agreement cont inues to progress multiple
NdFeB feedstocks that have been successfully tested through the accelerated piloting programme at the University
of Birmingham’s HPMS pilot facility which will support the technical procurement team as it continues to target and
purchase bulk NdFeB feedstock sources across the United States. HyProMag USA is continuing to work closely to
build long-term partnerships with commercial suppliers and federal and state government’s to facilitate these
feedstock sources.”
Graham Davy, ILS CEO commented: “ILS is excited to expand its procurement efforts to other NdFeB sources in
partnership with HyProMag USA. The additional procurement and pre-processing operations will assist the recovery
and recycling of critical strategic materials within the U. S. and provide a platform for further ILS growth. We look
forward to working collaboratively with manufacturers and with their supply and vendor chains to facilitate the
growth of rare earth material recycling using HyProMag’s innovative magnet recycling technology in the USA.”
HyProMag USA Feasibility Study
The Feasibility Study includes the Texas Hub, and two pre-processing facilities located in South Carolina and Nevada
respectively. In March 2025, HyProMag USA announced the expansion of the detailed engineering phase to include
three HPMS vessels iii and that it was initiating concept studies for further expansion and complementary “Long
Loop” recyclingiv. The Texas Hub’s annual production is expected to be 750 metric tonnes per annum of recycled
sintered NdFeB magnets and 807 metric tonnes per annum of associated NdFeB co-products (total payable capacity
– 1,557 metric tonnes NdFeB within five years of commissio ning) over a 40-year operatin g life. It is expected the
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production facility will provide significant optionality to supply the U.S. market with additional NdFeB alloy powder
while assisting in revitalising the U.S. magnet sector with the creation of 90-100 skilled magnet manufacturing jobs.
In March 2025, HyProMag USA announced the results of an independent ISO-Compliant product carbon footprint
study which confirmed an exceptionally low CO 2 footprint of 2.35 kg CO 2 eq. per kg of NdFeB cut sintered block
product.v
In August 2025, HyProMag USA announced ILS had formally commenced its stockpiling of feedstock initiative
pursuant to the recently announced feedstock supply and pre-processing site share agreement between HyProMag
USA and ILS.
In September 2025, HyProMag USA announced the commissioning of a Concept Study to evaluate the expansion of
its operations into Nevada and South Carolina in collaboration with ILS.vi
In September 2025, HyProMag USA announced the commissioning of a Concept Study to evaluate long-loop
recycling with Worley Group Inc.vii
About Mkango Resources Ltd.
Mkango is listed on the AIM and the TSX-V. Mkango’s co rporate 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 Corp. (“CoTec”), and to develop new
sustainable sources of neodymium, praseodymium, dysprosi um 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 Ltd 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 rolling out Hydrogen Processing of Magnet Scrap (“HPMS”) recycling technology into
the United States via the 50/50 owned HyProMag USA LLC joint venture company.
Mkango also owns the advanced stage Songwe Hill rare ea rths project in Malawi (“Songwe”) and the Pulawy rare
earths separation project in Poland (“Pulawy”). Both the Songwe and Pulawy projects have been selected as
Strategic Projects under the European Union Critical Raw Materials Act. Mkango signed a business combination
agreement dated 2 July 2025 (the “BCA”) with Crown PropTech Acquisitions to list the Songwe Hill and Pulawy rare
earths projects on NASDAQ via a SPAC Merger. Completion of the BCA remain s subject to satisfaction of certain
conditions, including approval of the TSX-V.
For more information, please visit www.mkango.ca
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Co mpany 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.
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forward-looking statements contained in this news release are made as of the date of this news release. Except as
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This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities
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Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States
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For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
[email protected] [email protected]
Canada: +1 403 444 5979
www.mkango.com
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 (020) 4530 9160/77
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i https://mkango.ca/news/hypromag-usa-enters-into-agreement-with-global-electronics-recycler-intelligent-lifecycle-solutions-for-feedstock-supply-and/
ii https://mkango.ca/news/hypromag-usa-purchases-inserma-pre-processing-units-for-texas-nevada-and-south-carolina-rare-earth-magnet-recycling-hubs-
in-the
iii https://mkango.ca/news/hypromag-usa-expands-detailed-engineering-phase-to-include-three-hpms-vessels-and-initiates-concept-studies-for-further/
iv Conventional leach, extraction purification and precipitation process
v https://mkango.ca/news/hypromag-usas-iso-compliant-product-carbon-footprint-study-confirms-exceptionally-low-co-sub-2-sub-footprint-of-2.35-kg-co-
sub/
vi https://mkango.ca/news/hypromag-usa-to-commission-scoping-study-to-triple-capacity-in-the-united-states-expanding-into-nevada-and-south-carolina/
vii https://mkango.ca/news/hypromag-usa-project-update-for-its-rare-earth-magnet-recycling-and-manufacturing-plants-in-the-united-states/