Mkango Resources Limited Announces HyProMag USA Advances Texas Hub & Magnet Platform

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Mkango Resources Limited Announces HyProMag USA Advances Texas Hub & Magnet PlatformHYPROMAG USA ADVANCES TEXAS HUB AND U.S. MAGNET PLATFORMCompany Starts Long-Lead Equipment Procurement, Increases Projected Magnet Production, and Progresses U.S. Build-Out CALGARY, AB / ACCESS Newswire / June 22, 2026 / Mkango Resources Ltd (AIM:MKA)(TSX-V:MKA) ("Mkango") is pleased to announce that HyProMag USA, LLC ("HyProMag USA" or the "Company"), has provided an update on the development of its Ironhead facility (the "Texas Hub") and the build-out of its U.S. commercial platform (together, the "Project"). The Company has increased its projected magnet production capacity, started procurement of key long-lead equipment and is progressing detailed engineering, feedstock aggregation, and commercial offtake discussions, while also initiating a search for U.S-based executive leadership to support the next phase of growth.Following completion of the Class 2 AACE[1] capital cost estimate in Q4 2025 and the commissioning of HyProMag's UK and German plants, HyProMag USA has begun ordering critical-path long-lead equipment to support a targeted H2 2027 commissioning of the Texas Hub. In parallel, detailed engineering is advancing and the Company is in discussions with feedstock suppliers, potential offtake partners and financing counterparties as it transitions from feasibility and pilot validation into execution of a scaled domestic magnet recycling and manufacturing platform in the United States.Key HighlightsLong-lead equipment procurement underway:The Company has commenced procurement of three Hydrogen Processing of Magnet Scrap ("HPMS") vessels along with magnet processing and finishing equipment to secure the development schedule for the Texas Hub.Increased magnet production and updated economics:Detailed engineering for a rare earth magnet recycling and manufacturing operation at the Texas Hub, supported by two pre-processing spoke sites at Intelligent Lifecycle Solution ("ILS") facilities in South Carolina and Nevada, indicates[2]:Annual production capacity of approximately 1,048 metric tons of recycled sintered neodymium-iron-boron ("NdFeB") magnets and 478 metric tons of NdFeB co-products (total payable capacity of 1,526 metric tons NdFeB) over a 40-year operating life.Post-tax Net Present Value ("NPV")[3] of approximately US$416 million and a real internal rate of r...

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