Maginito Limited is a JV company owned by Mkango Resources Ltd and Talaxis Ltd. It focuses on downstream opportunities relating to the rare earths supply chain, in particular neodymium alloy powders, magnet and other technologies geared to accelerating growth in the electric vehicle market. Maginito holds a 25% interest in UK based NdFeB magnet recycler, HyProMag, with an option to increase to 49%. HyProMag is focused on short loop NdFeB magnet recycling using a hydrogen based technology developed at the Magnetic Materials Group (MMG) within the University of Birmingham. Maginito is also evaluating a number of other complementary downstream technology opportunities, underpinned by sustainable sources of both primary and secondary rare earth raw materials.
Maginito is working with HyProMag to establish a recycling facility for NdFeB magnets at Tyseley in Birmingham to provide a sustainable solution for the supply of NdFeB magnets and alloy powders for a wide range of markets including, for example, automotive and electronics. A number of product options are being evaluated including hydrogen decrepitated (HD) demagnetised powders suitable for magnet producers, alloy ingot re-melted from HD powders suitable for alloy feed or magnet production, anisotropic alloy powders (HDDR) for bonded magnets and sintered NdFeB magnets as required by the RaRE project for automotive applications. Hypromag’s facilities will initially be based under the umbrella of MMG process development with phased transfer into Tyseley over two years and first sales from Tyseley projected in year three.