Mkango Resources Ltd. has successfully finalised its acquisition of the Remloy rare earth magnet recycling business from Heraeus Amloy Technologies GmbH for €8 million (approximately US$9.3 million). This transaction, which was first announced on 20 May 2026, includes an initial payment of €5 million (around US$5.8 million) upon closing, with the remaining €3 million (approximately US$3.5 million) due on 28 August 2028, marking the second anniversary of the deal’s completion.
Remloy operates a recycling facility in Bitterfeld, Germany, which employs a melting process to recycle end-of-life rare earth magnets. This process produces neodymium-iron-boron (NdFeB) alloy powders, catering to the bonded and hot-deformed magnet markets. The Remloy recycling method complements the short loop recycling process of HyProMag, which focuses on producing sintered magnets, and Mkango Rare Earths UK’s long loop recycling process aimed at generating mixed rare earth carbonates and oxides. The facility aims for a production capacity of at least 500 tonnes of NdFeB alloy powder annually.
The acquisition comes with several advantages, including a fully commissioned production facility bolstered by substantial investments in equipment and feedstock. At the time of completion, Remloy had a significant stockpile of approximately 345 tonnes of end-of-life rare earth magnets and alloys, which will provide essential feedstock for both Remloy and HyProMag, supporting their growth strategies and creating future trading opportunities.
Mkango’s CEO, William Dawes, expressed optimism about the acquisition, highlighting the potential to enhance the rare earth supply chain and recycling ecosystem in Germany and surrounding regions. He noted that Mkango is now strategically positioned across the entire rare earth supply chain in Europe and North America, with operations spanning recycling, magnet and alloy manufacturing in the UK, Germany, and the USA, as well as rare earth separation in Poland and mining activities in Malawi.
David Bender, the newly appointed Managing Director of Remloy, emphasised the company’s readiness to scale up production and recycling capacities for rare-earth magnets. He believes that the integration into Mkango will significantly bolster supply chain resilience and security of supply in Europe, allowing Remloy to better serve its customers through enhanced synergies within the Mkango Group.
Overall, this acquisition marks a significant step for Mkango Resources as it aims to solidify its position in the rare earth sector, particularly in the context of increasing demand for sustainable recycling solutions and the growing importance of rare earth materials in various industries.
