HyProMag USA's Low Carbon Footprint: A Game Changer in Rare Earth Magnets

In a significant development for the rare earth magnet industry, HyProMag USA, a subsidiary of Mkango Resources Ltd. (AIM/TSX-V: MKA), has announced the completion of an independent Product Carbon Footprint (PCF) analysis for its recycled neodymium iron boron (NdFeB) magnets. Conducted by Minviro Limited in accordance with ISO 14067:2018 standards, the study confirmed an exceptionally low PCF of 2.35 kg CO2 eq. per kg of NdFeB cut sintered block. This remarkable result positions HyProMag USA's recycled magnets as a competitive and sustainable alternative to primary production, with substantial implications for the global rare earth magnet market.

The PCF of 2.35 kg CO2 eq. per kg of NdFeB cut sintered block is significantly lower than the carbon footprint of primary NdFeB magnet production, which is estimated to be around 10-15 kg CO2 eq. per kg of NdFeB magnet. This substantial reduction in emissions is attributable to HyProMag USA's innovative Hydrogen Processing of Magnet Scrap (HPMS) technology, which recovers NdFeB permanent magnets from end-of-life scrap streams. This process reduces the need for mining and processing virgin materials, conserves natural resources, and minimizes waste.

The low PCF of HyProMag USA's recycled magnets not only reduces the environmental impact of the rare earth magnet supply chain but also enhances their competitiveness in the global market. As demand for rare earth magnets continues to grow, driven by the increasing adoption of electric vehicles, wind turbines, and other clean technologies, governments and corporations are increasingly prioritizing sustainability and low-carbon products. This creates a favorable market environment for HyProMag USA's recycled magnets, which align with these strategic objectives.

Moreover, the U.S. government has identified the revitalization of U.S. rare earth permanent magnet production, metallization, and skills development as a strategic priority. HyProMag USA's low-carbon magnets align with these objectives, positioning the company well to secure government support and contracts. The company's innovative HPMS technology and commitment to sustainability also make it an attractive partner for original equipment manufacturers (OEMs) and other stakeholders in the rare earth magnet supply chain.

In conclusion, HyProMag USA's low PCF of 2.35 kg CO2 eq. per kg of NdFeB cut sintered block is a game changer for the rare earth magnet industry. By leveraging its innovative HPMS technology and commitment to sustainability, HyProMag USA is well-positioned to capture a significant share of the global rare earth magnet market, while contributing to the reduction of greenhouse gas emissions and the achievement of climate change mitigation targets. As the demand for low-carbon products continues to grow, HyProMag USA's recycled magnets offer a compelling and sustainable alternative to primary production, with substantial benefits for both the environment and the bottom line.