Mkango Subsidiary Maginito Completes the Acquisition of a 25% Interest in Hypromag, a University of Birmingham Spinout Focused on Rare Earth Magnet Recycling - Seite 2

Daniel Mamadou, Executive Director of Talaxis said: “Our investment in HyProMag marks an exciting step for Maginito and for Talaxis. We are proud to be part of a project that has the potential to revolutionise the magnet recycling sector and support the growing global shift towards renewable energy and electric vehicles. This investment further strengthens our position as the supply partner of choice in the technology metals industry and underlines Noble’s wider commitment to decarbonisation and sustainability.”

About HyProMag

The Magnetic Materials Group within the School of Metallurgy at the University of Birmingham has been active in the field of rare earth alloys and processing of permanent magnets using hydrogen for over 40 years. Originated by Professor Rex Harris, the hydrogen decrepitation method, which is used to reduce NdFeB alloys to a powder, is now ubiquitously employed in worldwide magnet processing. In a further development, the MMG patented a process for extracting and demagnetising NdFeB powders from magnets embedded in redundant equipment using hydrogen in a process called HPMS (Hydrogen Processing of Magnet Scrap). This patent and related intellectual property is at the core of HyProMag. The MMG continues to develop new research and development opportunities, cooperates widely in Europe and is currently involved in two significant EU projects (SusMagPro and Neohire). The directors of HyProMag all provide their expertise to the MMG and there is potential for HyProMag to gain possible future access to new intellectual property.

HyProMag’s strategy is to establish a recycling facility for NdFeB magnets at Tyseley in Birmingham to provide a sustainable solution for the supply of NdFeB magnets and alloy powders for a wide range of markets including, for example, automotive and electronics. A number of product options are being evaluated including hydrogen decrepitated (HD) demagnetised powders suitable for magnet producers, alloy ingot remelted from HD powders suitable for alloy feed or magnet production, anisotropic alloy powders (HDDR) for bonded magnets and sintered NdFeB magnets as required by the RaRE project for automotive applications.