on CoTec Holdings Corp. (CVE:CTH)
HyProMag Advances in Rare Earth Magnet Recycling
Mkango Resources Ltd. and CoTec Holdings Corp. announced significant progress in HyProMag's pilot program utilizing Hydrogen Processing of Magnet Scrap (HPMS) technology. This initiative aims to produce low-carbon rare earth magnets in the UK, Germany, and the USA. The University of Birmingham's pilot plant has already produced over 3,500 commercial-grade magnets from waste streams, supporting commercialization efforts.
HyProMag has optimized HPMS for different NdFeB scrap sources, including electric motor rotors and hard disk drives, providing effective recycling solutions across industries. Collaborating with automotive and technology companies, tests indicate that performance nearly matches magnets made from virgin materials.
The development includes the first production-ready HDD magnet separation system set for UK delivery. HyProMag plans further advancements by blending recycled powders with virgin materials, aligning with European Union recycling standards. This effort underscores the company's commitment to sustainable and efficient magnet production.
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