New Maginito Website and Presentation
LONDON and VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) — Mkango Resources Ltd. (TSXV:MKA) (the “Company” or “Mkango”) is pleased to announce the launch of a new website for Maginito Limited (“Maginito”) (www.maginito.com), together with a new Maginito company presentation, available for download from the website via the following link: https://maginito.com/site/assets/files/1/20201103_maginito_presentation-1.pdf
Maginito is 75.5% owned by Mkango, which is completing a Feasibility Study for the Songwe Hill rare earths project in Malawi, and 24.5% owned by Talaxis Limited (“Talaxis”), which is focused on investment in and development of technology metal opportunities.
Maginito was established to pursue downstream 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’s strategy is underpinned by offtake rights for sustainably sourced primary and secondary raw materials, and geared to accelerating growth in the electric vehicle sector, wind power generation and other industries driven by decarbonisation of the economy.
In January 2020, Maginito acquired a 25% interest in UK based NdFeB magnet recycler, HyProMag Limited (“HyProMag”), with an option to increase to 49%. HyProMag is focused on short loop NdFeB magnet recycling using a hydrogen-based technology (HPMS) developed at the Magnetic Materials Group (MMG) within the University of Birmingham. HyProMag is a partner in the Innovate UK grant funded project, “Rare-Earth Recycling for E-Machines” (“RaRE”) together with University of Birmingham, Advanced Electric Machines Research Limited, Bentley Motors Limited, Intelligent Lifecycle Solutions Limited and Unipart Powertrain Applications Limited, which will for the first time establish an end to end supply chain to incorporate recycled rare earth magnets into electric vehicles.
Maginito is currently evaluating a number of other complementary downstream technology opportunities.
The Magnetic Materials Group within the School of Metallurgy and Materials at the University of Birmingham has been active in the field of rare earth alloys and processing of permanent magnets using hydrogen for over 40 years. Originated by Professor Rex Harris, the hydrogen decrepitation method, which is used to reduce NdFeB alloys to a powder, is now ubiquitously employed in worldwide magnet processing.
In a further development, the MMG patented a process for extracting and demagnetising NdFeB powders from magnets embedded in redundant equipment using hydrogen in a process called HPMS (Hydrogen Processing of Magnet Scrap). This patent and related intellectual property is at the core of HyProMag’s business. The MMG continues to develop new research and development opportunities, cooperates widely in Europe, including a major EU project, SusMagPro, which is also focused on recycling of magnets. The directors of HyProMag all provide their expertise to the MMG and there is potential for HyProMag to gain possible future access to new intellectual property.
HyProMag is also a partner in the Innovate UK grant funded project, “Rare-Earth Recycling for E-Machines” (“RaRE”) together with University of Birmingham, Advanced Electric Machines Research Limited, Bentley Motors Limited, Intelligent Lifecycle Solutions Limited and Unipart Powertrain Applications Limited.
RaRE will for the first time establish an end to end supply chain to incorporate recycled rare earth magnets into electric vehicles, …