CALGARY, AB, LONDON, UK, AND VANCOUVER, BC / ACCESS Newswire / August 31, 2026 / Mkango Resources Ltd. (AIM:MKA)(TSX-V:MKA) ("Mkango" or the "Company") is pleased to announce that following the announcement on 20 May 2026, the Company has completed the acquisition of the Remloy rare earth magnet recycling business ("Remloy") from Heraeus Amloy Technologies GmbH for€8 million (US$9.3 million[1]) in cash of which€5 million (US$5.8 million1) was settled by Mkango on closing (the "Transaction"). The balance of€3 million (US$3.5 million1) 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.
Highlights
Fully commissioned production facility, supported by significant investment in equipment and feedstock to date, providing a strong foundation for current production and future expansion opportunities.
