Aim-listed Mkango Resources, together with its 25%-owned subsidiary HyProMag, has launched a project called Rare-Earth Recycling for E-Machines.
The project features a strong set of partners including Advanced Electric Machines Research, Bentley Motors, Intelligent Lifecycle Solutions and Unipart Powertrain Applications.
The £2.6-million grant-funded project will see recycled rare earth magnets – used in electric vehicles – to support the development of a commercial ancillary motor suite.
Mkango says fundamental to the project is a patented process for extracting and demagnetising neodymium iron boron alloy powders, using hydrogen, from magnets embedded in scrap and redundant equipment.
Mkango is also developing the Songwe Hill rare earth mining project, in Malawi.