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Highlights
- Independent Product Carbon Footprint (PCF) analysis confirms low carbon footprint for HyProMag USA’s technology.
- The analysis, conducted by Minviro Limited, aligns with ISO 14067 standards.
- HyProMag USA aims to provide the U.S. with a sustainable domestic source of rare earth magnets.
CoTec Holdings Corp. (TSXV:CTH) and Mkango Resources Ltd. (TSXV:MKA) are proud to announce the successful completion of an independent Product Carbon Footprint (PCF) analysis for HyProMag USA LLC ("HyProMag USA"), a company working to develop a new domestic source of recycled rare earth permanent magnets in Texas, United States. The analysis was conducted by Minviro Limited ("Minviro") in accordance with the ISO 14067:2018 standards, providing a comprehensive assessment of the carbon footprint associated with the production of neodymium iron boron (NdFeB) magnets and their co-products.
According to the findings, Minviro confirmed a Product Carbon Footprint (PCF) of 2.35 kg of CO2 equivalent per kilogram of NdFeB cut sintered block product, based on the base case scenario outlined in the Feasibility Study. This scenario involves the annual production of 750 metric tons of sintered NdFeB magnets and 291 metric tons of associated NdFeB co-products. The study also examined the carbon footprint of the HPMS recycled NdFeB alloy powder, a co-product of HyProMag USA’s operations, which showed a PCF of 0.38 kg of CO2 equivalent per kilogram of the alloy powder.
The PCF analysis is a critical milestone in the project, as it scientifically quantifies the environmental impact of the production process. The results reflect a concerted effort to minimize the carbon emissions associated with the manufacturing of permanent magnets, which are essential components for clean energy technologies, electric vehicles, and other industries that depend on rare earth materials. By utilizing recycled rare earth elements, HyProMag USA contributes to reducing the environmental footprint of these critical products.
Julian Treger, CEO of CoTec, expressed his satisfaction with the results, stating, "We are very pleased with the outcomes of the Minviro Study, which further reinforces the low carbon footprint potential of HyProMag’s technology. This achievement positions HyProMag USA as a key player in supplying the United States with a sustainable and low-carbon domestic source of rare earth permanent magnets, supporting the nation’s strategic goals in revitalizing its rare earth production capabilities."
