Aim-listed and TSX-V-listed Mkango Resources’ 75%-owned subsidiary Maginito has acquired an initial 25% interest in HyProMag.
HyProMag is a private UK-based company that is focused on rare earth magnet recycling. The company has a patented process for extracting and demagnetising neodymium iron boron alloy powders from magnets embedded in scrap equipment.