Mkango Subsidiary, Maginito, and CoTec Appoint Lead Engineers BBA and Pegasus to Complete the Feasibility Study for HyProMag USA
Julian Treger, CoTec CEO commented: “The Feasibility Study represents a significant milestone towards the construction of commercial-scale magnet recycling and production facilities in the United States.
- Julian Treger, CoTec CEO commented: “The Feasibility Study represents a significant milestone towards the construction of commercial-scale magnet recycling and production facilities in the United States.
- HyProMag has sublicenced the HPMS technology to HyProMag USA, which is 50:50 per cent owned by CoTec and Maginito.
- Following completion of the Feasibility Study, CoTec and Mkango will make a joint decision as to whether HyProMag USA will proceed with the construction of the US Project.
- Funding provided by CoTec would be in the form of shareholder loans to HyProMag USA.