- Mkango Magnetic Materials (TSXV:MKA) announced that its HyProMag rare earths magnet recycling and manufacturing plant in Pforzheim, Germany, has been named a strategic project under the European Union Critical Raw Materials Act.
- The company is focused on becoming a leading producer of recycled rare earth magnets, alloys and oxides.
- Mkango Magnetic stock has given back 25.51% year-over-year, while gaining 58.70% since 2021.
Mkango Magnetic Materials (TSXV:MKA) announced that its HyProMag rare earths magnet recycling and manufacturing plant in Pforzheim, Germany, has been named a strategic project under the European Union Critical Raw Materials Act (CRMA), meaningfully streamlining its permitting and financing processes, while confirming its central role in the continent’s technology, industrial and defense supply chains.
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The plant, currently in the commissioning phase, will be able to produce 100 tons of neodymium, iron and boron (NdFeB) magnets and alloys per year using its patented technology, increasing up to 350 tons over time, with a 750-ton expansion under consideration.
According to Friday’s news release, multiple discussions with customers for NdFeB alloy powder and magnets are ongoing to support operational scaling at the facility.
The milestone marks Mkango’s third designation under the CRMA, following its Songwe Hill rare earths project in Malawi in June 2025 and its Pulawy rare earths separation project in Poland in March 2025.
About Mkango Magnetic Materials
Mkango Magnetic Materials is focused on becoming a leading producer of recycled rare earth magnets, alloys and oxides.
Mkango Magnetic stock (TSXV:MKA) opened with a gain of 10.61% trading at C$0.73. The stock has given back 25.51% year-over-year, while gaining 58.70% since 2021.
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