Germany

In November 2021, HyProMag established an 80%-owned subsidiary in Germany, HyProMag GmbH, to roll out commercialisation of HPMS technology into Germany and Europe.

HyProMag GmbH is 20% owned (10% following conversion of the HyProMag GmbH convertible loan) by Professor Carlo Burkhardt of Pforzheim University, co-ordinator of the €14m SusMagPro and €13m REEsilience EU funded recycling projects, with approximately 40 partners across the European supply chain. HyProMag GmbH is developing a similar sized plant in Pforzheim, Baden-Württemberg to that at Tyseley Energy Park. Initial capacity is expected to be a minimum of 100tpa NdFeB, comprising recycled rare earth sintered magnets and alloys and will be the first in Germany using the patented HPMS process.

In August 2026, Mkango completed the acquisition of the Remloy rare earth magnet recycling business (“Remloy”) from Heraeus Amloy Technologies GmbH for €8 million in cash of which €5 million was settled by Mkango on closing. The balance of €3 million is payable in cash on 28 August 2028, being the second anniversary of completion.

Remloy has developed a plant in Bitterfeld, Germany, which recycles end-of-life rare earth magnets via a melting process (medium loop recycling) to produce neodymium-iron-boron (“NdFeB”) alloy powders for the bonded and hot deformed magnet markets. The Remloy process is complementary to HyProMag’s short loop recycling process to produce sintered magnets, and to Mkango Rare Earths UK’s long loop recycling process, to produce mixed rare earth carbonates and oxides. Target capacity is at least 500 tonnes per year of NdFeB alloy powder.