HyProMag USA to Triple U.S. Rare Earth Magnet Capacity by 2029

HyProMag USA, in partnership with CoTec Holdings Corp., plans a significant expansion of its rare earth magnet recycling and manufacturing operations across South Carolina, Nevada, and Texas. The planned expansion aims to increase production from 1,552 to 4,656 metric tons annually by 2029. This growth strategy supports HyProMag USA's goal of creating a scalable U.S. manufacturing platform and reinforces its intention for a public listing.

The expansion's conceptual studies, which include modular production options and site development plans, show a potential post-tax NPV of over $2 billion and a real IRR of 38.7%, based on forecast market prices. HyProMag's innovative approach and strategic U.S. market positioning focus on building resilience through domestic production and sustainable practices.