Mkango Secures Power for Texas Magnet Hub, Sets Production Targets

Mkango said HyProMag USA secured power with Oncor for its Texas rare earth magnet hub. Cutting and finishing are targeted for H1 2027, with Phase 1 completion targeted for mid-2028 and production of about 550 tonnes per year of NdFeB magnets and 484 tonnes per year of co-products. Phase 2 is envisaged to bring total capacity to about 1,526 tonnes per year.