COTEC


Associated tags: CTH, MKA, Rare-earth element, Recycling, Hydrogen, Magnet, Neodymium, University, HPMS, Feasibility study, Neodymium magnet, Research, Carbon

Mkango Subsidiary, Maginito, and CoTec Appoint Lead Engineers BBA and Pegasus to Complete the Feasibility Study for HyProMag USA

Retrieved on: 
Monday, March 11, 2024
Hydrogen, Magnet, BBA, Acquisition, Carbon footprint, Research, Neodymium magnet, MKA, Plant, CTH, Tyseley, Carbon, HPMS, University, Environment, Recycling, Mineral, Feasibility study, Rare-earth element

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.

Key Points: 
  • 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.

Mkango Subsidiary Maginito and CoTec Form HyProMag USA Joint Venture and Commence Process to Appoint EPCM Provider for the Feasibility Study

Retrieved on: 
Wednesday, January 3, 2024
Hydrogen, Magnet, Construction management, EPCM, Recycling, MKA, Research, Neodymium magnet, Mineral, Feasibility study, Engineering, Joint venture, HPMS, Plant, University, Neodymium, Carbon, CTH, Rare-earth element

The newly formed joint venture company, HyProMag USA, LLC (“HyProMag USA” or the “Joint Venture”), plans to develop a low cost, low carbon, sustainable rare earth magnet recycling and production business underpinned by HPMS.

Key Points: 
  • The newly formed joint venture company, HyProMag USA, LLC (“HyProMag USA” or the “Joint Venture”), plans to develop a low cost, low carbon, sustainable rare earth magnet recycling and production business underpinned by HPMS.
  • HyProMag is 100 per cent owned by Maginito, which is owned on a 79.4/20.6 per cent basis by Mkango and CoTec, and is commercialising rare earth magnet recycling in the UK, Germany and United States.
  • Following completion of the Feasibility Study, CoTec and Mkango will make a joint decision as to whether the Joint Venture will proceed with the construction of the US Project.
  • “We look forward to working and collaborating with local, state and federal stakeholders targeting the completion of the feasibility study”.

HyProMag’s Rare Earth Magnet Recycling Technology Selected as a Minerals Security Partnership Project

Retrieved on: 
Wednesday, October 11, 2023
Hydrogen, Magnet, European, HPMS, UK Research and Innovation, Recycling, MKA, Mineral, Private sector, Neodymium, United Kingdom, Innovation, CTH, Partner, Carbon, University, Neodymium magnet, Korea, Growth, South Korea, Research, MSP, Rare-earth element, Renewable energy

HyProMag utilises hydrogen to recycle rare earth magnets vital for the global energy transition by liberating them from end-of-life scrap.

Key Points: 
  • HyProMag utilises hydrogen to recycle rare earth magnets vital for the global energy transition by liberating them from end-of-life scrap.
  • “We see this as a significant endorsement of the technology, which can make a substantial impact in unlocking the supply chain for rare earth magnet recycling from end-of-life products and enabling the production of rare earth alloys and magnets with a significantly reduced carbon footprint.”
    HyProMag Ltd is commercialising rare earth magnet recycling using Hydrogen Processing of Magnet Scrap (HPMS) technology, which can liberate and recycle magnets from end-of-life scrap.
  • In line with MSP’s commitment to recycling and reuse, the development of new sources of recycled rare earths can accelerate development of sustainable and competitive rare earth magnet production.
  • It is focused on developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies.

Mkango and CoTec Provide Update on Roll-Out Of HyProMag’s Rare Earth Magnet Recycling Technology Into the United States

Retrieved on: 
Tuesday, October 10, 2023
Hydrogen, Magnet, HPMS, Government, Recycling, MKA, Plant, Neodymium, United Kingdom, Traction, EBITDA, CTH, Neodymium magnet, Carbon, University, Feasibility study, Growth, Research, Privacy and the US government, University of Birmingham, UK Research and Innovation, REE, Electricity, Rare-earth element, Tyseley

LONDON and VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Mkango”) and CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (“CoTec”) are pleased to provide an update on the roll-out of HyProMag’s rare earth magnet recycling technology into the United States.

Key Points: 
  • LONDON and VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Mkango”) and CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (“CoTec”) are pleased to provide an update on the roll-out of HyProMag’s rare earth magnet recycling technology into the United States.
  • HyProMag Ltd (“HyProMag”) is a wholly owned subsidiary of Maginito Ltd (“Maginito”), which is 79.4% owned by Mkango and 20.6% owned by CoTec.
  • Based on positive scoping studies to date, Maginito and CoTec have commenced planning for the feasibility study for the United States operation (“Feasibility Study”), targeted for completion by mid-2024.
  • It is focused on developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies.

CoTec Completes Conversion of £2M Mkango Loan Note to Increase Equity Position in Maginito from 10 Per Cent to 20.6 Per Cent

Retrieved on: 
Monday, October 2, 2023
Hydrogen, Magnet, International joint venture, Feasibility study, University, Innovation system, MKA, Research, Recycling, Carbon, Electronic waste, Government, Joint venture, CTH, HPMS, Privacy and the US government, Fair Use Project, Security (finance), Rare-earth element

As a result of the conversion, CoTec’s equity position in Maginito has increased from 10 per cent to 20.6 per cent.

Key Points: 
  • As a result of the conversion, CoTec’s equity position in Maginito has increased from 10 per cent to 20.6 per cent.
  • In February 2023, CoTec and Maginito entered into a co-operation agreement in relation to rare earth element (“REE”) opportunities in the United States.
  • CoTec and Mkango also expect that the Joint Venture will seek US government funding for the US Project.
  • Julian Treger, CoTec CEO commented: “With the Maginito conversion completed our focus will be the operational roll out of the HyProMag technology in the United States.

Mkango Subsidiary, Maginito, and CoTec Form US Joint Venture

Retrieved on: 
Thursday, September 14, 2023
Hydrogen, Magnet, Very Fast Train Joint Venture, Feasibility study, Joint, University, Neodymium, Carbon footprint, MKA, Neodymium magnet, Research, Recycling, Joint venture, Government, CTH, HPMS, Fair Use Project, Rare-earth element, Renewable energy

HyProMag is 100 per cent owned by Maginito Limited (“Maginito”), which is owned on a 90:10 basis by Mkango and CoTec.

Key Points: 
  • HyProMag is 100 per cent owned by Maginito Limited (“Maginito”), which is owned on a 90:10 basis by Mkango and CoTec.
  • Following completion of the Feasibility Study, CoTec and Mkango would make a joint decision on whether the Joint Venture will proceed with the construction of the US Project.
  • CoTec will fund the initial operations of the Joint Venture, including the costs of the Feasibility Study.
  • CoTec and Mkango also expect that the Joint Venture will seek US government funding for the US Project.

Maginito Completes Acquisition of Pioneering Rare Earth Magnet Recycler Hypromag

Retrieved on: 
Thursday, August 3, 2023

LONDON and VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that, further to the previous announcement on May 16, 2023, Maginito Limited (“Maginito”) has completed the transaction to increase its ownership in HyProMag Limited (“HyProMag”) to 100% for a cash and share consideration (the “Transaction”).

Key Points: 
  • Maginito is focused on developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies.
  • As a result of completion of the Transaction, Maginito holds a 100% interest in HyProMag focused on short loop rare earth magnet recycling in the UK, a 90% direct and indirect interest (assuming conversion of Maginito’s recently announced convertible loan) in HyProMag GmbH, a company focused on short loop rare earth magnet recycling in Germany, and a 100% interest in Mkango Rare Earths UK Ltd (“Mkango UK”), a company focused on long loop rare earth magnet recycling in the UK via a chemical route.
  • In March 2023, CoTec invested £1.5 million (C$2.6 million) into Maginito, and Maginito and CoTec agreed to collaborate on the commercialisation of downstream rare earth technologies in the United States.
  • Through its ownership of Maginito ( www.maginito.com ), Mkango is also developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies.

Maginito to Acquire Pioneering Rare Earth Magnet Recycler HyProMag

Retrieved on: 
Tuesday, May 16, 2023

LONDON and VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that it has entered into an agreement to increase its ownership in HyProMag Limited (“HyProMag”) from 42% to 100% for a cash and share consideration (the “Transaction”). The Transaction is conditional upon the approval of the TSX Venture Exchange and approval pursuant to the UK’s National Security and Investment (NSI) Act. Approval of the latter is expected no later than the third quarter of 2023.

Key Points: 
  • Maginito is focused on developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies.
  • Following the Transaction, Maginito will hold a 100% interest in HyProMag Limited focused on short loop rare earth magnet recycling in the UK, a 90% direct and indirect interest (assuming conversion of Maginito’s recently announced convertible loan) in HyProMag GmbH, a company focused on short loop rare earth magnet recycling in Germany, and a 100% interest in Mkango Rare Earths UK Ltd (“Mkango UK”), a company focused on long loop rare earth magnet recycling in the UK via a chemical route.
  • In March 2023, CoTec invested £1.5 million (C$2.54 million) into Maginito, and Maginito and CoTec agreed to collaborate on the commercialisation of downstream rare earth technologies in the United States.
  • Through its ownership of Maginito ( www.maginito.com ), Mkango is also developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies.

Completion of £1.5 Million Investment by CoTec Into Maginito Limited and Co-Operation Agreement Signed for Development of Rare Earth Technologies in the United States

Retrieved on: 
Thursday, March 16, 2023

LONDON and VANCOUVER, March 16, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) and CoTec Holdings Corp (TSX-V: CTH) (“CoTec”) are pleased to announce that they have closed the previously announced £1.5 million investment (the “Investment”) by CoTec into Mkango’s subsidiary, Maginito Limited (“Maginito”). In connection therewith, Maginito and CoTec have agreed to collaborate on the commercialisation of downstream rare earth technologies in the United States and Mkango Rare Earths UK Ltd (“Mkango UK”) has been transferred to become a subsidiary of Maginito.

Key Points: 
  • In connection therewith, Maginito and CoTec have agreed to collaborate on the commercialisation of downstream rare earth technologies in the United States and Mkango Rare Earths UK Ltd (“Mkango UK”) has been transferred to become a subsidiary of Maginito.
  • A new US subsidiary, to be jointly owned by Maginito and CoTec, is expected to be formed to develop rare earth technology opportunities in the United States.
  • Maginito will also benefit from potential synergies with Mkango’s development of primary rare earths production in Malawi and Poland.
  • Mkango and CoTec have entered into a co-operation agreement regarding future investments in rare earth processing technology opportunities in the United States.

Mkango and CoTec Sign Definitive Agreements to Invest in Mkango, Maginito and to Collaborate in Rare Earth Technologies in United States

Retrieved on: 
Wednesday, February 1, 2023
Convertible, Documentation, MKA, Debt, TSX, Resource, Acquisition, Sale, Collaboration, CTH, Market abuse, ESG, Conversion, Investment, Exercise, TSX Venture Exchange, European Union (Withdrawal) Act 2018, Security (finance), Renewable energy, EU

LONDON and VANCOUVER, British Columbia, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”) and CoTec Holdings Corp. (TSX-V: CTH) (“CoTec”) are pleased to announce that they have signed definitive agreements in relation to a £2 million convertible loan agreement in Mkango, a £1.5 million equity investment in Maginito, and subject to Closing, a co-operation agreement regarding future investments in rare earth processing technology opportunities in the United States.

Key Points: 
  • Additionally, on the Maginito Investment Closing, Mkango and Maginito will enter into a management agreement whereby Mkango will continue to manage Maginito.
  • The Convertible Loan is secured over the shares held by Mkango in Maginito and the terms supersede all previous convertible notes issued by Mkango to CoTec.
  • Provided that the Maginito Investment Closing occurs, CoTec has the option to convert the Principal Amount and interest into Maginito Shares giving it an effective interest, post conversion, of 20.6% of Maginito (“CoTec Maginito Conversion Right”).
  • Subject to Maginito Investment Closing, Maginito and CoTec will enter into a co-operation agreement regarding future investments in rare earth processing technology opportunities in the United States.