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Highlights
- CoTec Holdings (TSXV:CTH) and Mkango Resources have initiated a Request for Proposal for leading EPCM providers.
- The initiative focuses on HyProMag USA's rare earth magnet recycling and manufacturing project in the U.S.
- The project represents a significant advancement in the rare earth magnet recycling sector.
The rare earth magnet recycling sector is experiencing significant growth as companies focus on sustainable practices and resource efficiency. This burgeoning industry plays a crucial role in supplying essential materials for various high-tech applications while reducing environmental impact.
CoTec Holdings and Mkango Resources Collaborate
CoTec Holdings Corp. and Mkango Resources Ltd. have announced a collaboration aimed at advancing rare earth magnet recycling in the United States. Both companies are working together through HyProMag USA LLC, a venture focused on developing cutting-edge recycling technologies.
Request for Proposal Process Initiated
The companies have initiated a Request for Proposal process, inviting leading Engineering, Procurement, and Construction Management providers to participate. This move is a critical step toward completing the detailed engineering design, procurement, and construction management phase of the project.
HyProMag USA's Innovative Project
HyProMag USA is spearheading a state-of-the-art rare earth magnet recycling and manufacturing project. The initiative aims to establish a robust supply chain within the United States, enhancing self-sufficiency in rare earth materials and supporting various industries reliant on these critical components.
