Proactive Investors - Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) 79.4% owned associate HyProMag is collaborating with Envipro Holdings Inc, a Japanese recycling company.
Through the collaboration agreement, announced today, the two companies envisage a partnership to work on rare earth magnet recycling projects in Japan and the United Kingdom.
Specifically, they will focus on joint marketing of HyProMag's recycling technology solutions, recycling trials on NdFeB scrap supplied by Envipro, and the analysis of the NdFeB scrap supply market in Japan.
They will also explore potential developments in HyProMag's recycling technology in Japan.
"This is the first step in the roll out of HyProMag's rare earth magnet recycling technology into Japan and other Asian markets, and we are very excited to work with Envipro,” Mkango chief executive Will Dawes said in a statement.
“We see Japan as a major growth opportunity for Mkango and HyProMag, given its substantial and longstanding rare earth market presence and strategic alignment with the development of more robust rare earth supply chains and the objectives of the Minerals Security Partnership, of which Japan is a member."