Aim- and TSX-V-listed rare earth elements and associated minerals company Mkango Resources’ subsidiaries HyProMag and Mkango Rare Earths UK have been named as collaborative project winners of the Driving Research & Investment in Vehicle Electrification (DRIVE35) research and development (R&D) competition – an initiative of the UK Department for Business and Trade (DBT) to support the UK automotive industry through £4-billion of capital and R&D funding. HyProMag is leading the three-year £6.5-million Rare Earth Automotive Circular Technologies for the UK (REACT UK) project to establish and deliver a full circular UK supply chain comprising recovery, recycling and remanufacturing of neodymium-iron-boron (NdFeB) magnets from end-of-life hybrid and electric vehicles.
