The Bitterfeld operation, launched in 2024, holds an inventory of approximately 345 tonnes of material.
Canadian critical-minerals developer Mkango Resources has completed its acquisition of rare earth magnet recycler Remloy from Heraeus, first announced in May. The purchase price is €8 million. Mkango paid €5 million on completion, with the remaining €3 million due in August 2028.
Remloy operates a plant in Bitterfeld in the German state of Saxony-Anhalt, where end-of-life neodymium-iron-boron magnets are melted down and processed into alloy powder. The facility began operations in May 2024. According to Mkango, production is currently running on a small scale. The company aims to increase output to at least 500 tonnes per year over the next few years. The acquisition also includes an inventory of approximately 345 tonnes of end-of-life magnets, alloys and other raw materials.
The process is intended to complement Mkango’s other recycling methods, particularly those used by its subsidiary HyProMag in Pforzheim in the German state of Baden-Württemberg. The Canadian company’s portfolio also includes the Songwe Hill mining project in Malawi and a planned rare earth separation plant in Puławy, Poland.
Photo: iStock/xiao zhou
