HyProMag USA Achieves Low CO2 Footprint in Magnet Production

CoTec Holdings Corp. and Mkango Resources Ltd. have announced the completion of a Product Carbon Footprint (PCF) analysis for HyProMag USA, indicating a notably low carbon footprint. The study, conducted by Minviro Limited, confirms that HyProMag's NdFeB cut sintered block product produces 2.35 kg CO2 eq. per kg, a significant reduction compared to traditional methods.

HyProMag USA, a joint venture between CoTec and Maginito, aims to develop a sustainable source of recycled rare earth magnets in Texas. Utilizing patented Hydrogen Processing of Magnet Scrap (HPMS) technology, the project supports the United States' strategic goals for domestic magnet production and skills development.

The results underline the project's efficiency, reducing emissions by about 95% over mine-based production methods and highlighting HyProMag's potential influence on the magnet supply chains in the US, Europe, and Asia.