HyProMag USA's Phased Development in Texas: New Magnet Finishing Facility

CoTec Holdings Corp. has announced through its joint venture HyProMag USA a phased strategy to develop a magnet production hub in Dallas-Fort Worth, Texas. Targeting early 2027, initial magnet finishing equipment will be commissioned, utilizing up to 20 tonnes of neodymium-iron-boron (NdFeB) magnet blocks supplied by plants in the UK and Germany.

This early phase aims to establish local finishing capabilities, address U.S. customer specifications, and advance qualification programs before a more integrated operation in 2028. HyProMag's Hydrogen Processing of Magnet Scrap (HPMS) section, scheduled for Q2 2028, will integrate U.S. sourced feedstock, enhancing U.S. recycling and manufacturing capabilities.

The project highlights HyProMag USA's commitment to customer engagement, feedstock acquisition, and phased equipment ramp-up. It anticipates a full annual capacity of approximately 1,526 metric tonnes of magnetic products upon completion.