Star Metro - HyProMag USA Finalizes Long-Term Lease For Dallas-Fort Worth Rare Earth Magnet Recycling and Manufacturing Hub

DALLAS-FORT WORTH, TX / ACCESS Newswire / December 11, 2025 / HyProMag USA, LLC ("HyProMag USA" or the "Company"), a U.S.-based leader in rare-earth recycling and processing, is pleased to announce it has finalized a lease agreement for its proposed rare-earth magnet recycling and manufacturing facility in Dallas-Fort Worth, Texas. HyProMag USA's first facility (the "Texas Facility" or the "Project") will be located at Ironhead Commerce Center, Building 1, Dallas-Fort Worth, Denton County, Texas. The Project site is strategically located next to critical infrastructure, the BNSF intermodal rail link and the Alliance airport. The milestone marks the next phase in HyProMag USA's Project expansion and underscores its commitment to building a fully domestic, circular supply chain for rare-earth magnets critical to revitalizing U.S. industry and to provide a long-term domestic supply of critical minerals.

The Texas Facility will leverage the patented Hydrogen Processing of Magnet Scrap ("HPMS") technology - developed by the Magnetic Materials Group at the University of Birmingham with over 25 years of R&D and exclusively licensed to HyProMag Limited, a 50% partner in HyProMag USA, to recover and remanufacture rare earth magnets from end-of-life products. HyProMag USA targets commissioning the Texas Facility by mid-2027, subject to final permitting and financing, and anticipates creating approximately 90 to 100 skilled jobs in magnet manufacturing, engineering and advanced materials processing. HyProMag USA has collaborated closely with the Town of Northlake to advance the Texas Facility. Additionally, the Company has also established and expanded its feedstock-supply partnership with Intelligent Lifecycle Solutions (ILS), a global electronics recycling company, which has commenced stockpiling magnet-bearing materials to support commissioning of HyProMag's U.S. operationsⁱ.

HyProMag USA will occupy 50 percent of Building 1 at Ironhead Commerce Center, approximately 128,000 square feet. The Texas Facility will serve as the central hub of HyProMag USA's hub-and-spoke short-loop network, which includes planned pre-processing facilities in Nevada and South Carolina. The Project's modular design allows for faster replication across the U.S., providing a more scalable blueprint for restoring rare-earth magnet production and reducing reliance on overseas sources.

"Finalizing the Texas Facility lease represents another major milestone in HyProMag USA's mission to deliver a secure, sustainable rare-earth magnet supply chain in the United States" said Julian Treger, Chief Executive Officer of CoTec Holdings Corp. "With the site secured and local partnerships in place, we're moving decisively toward completing financing, construction and the first commercial-scale production of recycled magnets in the United States."

"The Texas Facility being developed by HyProMag USA will help to transform rare-earth supply chains in the United States," said Will Dawes, Director of HyProMag USA and Chief Executive Officer of Mkango Resources. "Together with our partners, we're building the foundation for a resilient domestic magnet sector that supports the next generation of clean energy and technology manufacturing."

A fly over of the facility's location can be found here: https://www.youtube.com/watch?v=J8RHkZSfo0Y

HyProMag USA Feasibility Study

The independent Feasibility Study on the development of a state-of-the-art rare-earth magnet recycling and manufacturing operation in the U.S. includes the Texas Facility, and two pre-processing facilities located in South Carolina and Nevadaⁱⁱ. In March 2025, HyProMag USA announced the expansion of the detailed engineering phase to include three HPMS vesselsⁱⁱⁱ and that it was initiating concept studies for further expansion and complementary "Long Loop" recycling.^iv As reported in the Feasibility Study, the Texas Facility's annual production is estimated to be 750 metric tons per annum of recycled sintered NdFeB magnets and 807 metric tons per annum of associated NdFeB co-products (total payable capacity - 1,557 metric tons NdFeB within five years of commissioning) over a 40-year operating life. It is expected that the Texas Facility will provide significant optionality to supply the U.S. market with additional NdFeB alloy powder while assisting in revitalizing the U.S. magnet sector with the anticipated creation of approximately 90-100 skilled magnet manufacturing jobs.

In March 2025, HyProMag USA announced the results of an independent ISO-Compliant product carbon footprint study, which confirmed a CO₂ footprint of 2.35 kg CO₂ eq. per kg of NdFeB cut sintered block product.^v

In August 2025, HyProMag USA announced ILS had formally commenced its stockpiling of feedstock initiative pursuant to the recently announced feedstock supply and pre-processing site share agreement between HyProMag USA and ILS.

In September 2025, HyProMag USA announced the commissioning of a concept study to evaluate the expansion of its operations into Nevada and South Carolina in collaboration with ILS^vi and the commissioning of a concept study to evaluate long-loop recycling with Worley Group Inc.^vii

About HyProMag USA

HyProMag USA is developing advanced rare-earth magnet recycling and manufacturing operations to establish a more secure domestic U.S. supply chain for neodymium-iron-boron (NdFeB) magnets, essential components for AI infrastructure, defense systems, robotics, electric vehicles, and advanced electronics. Leveraging the revolutionary HPMS technology, developed over 25 years with over US$100 million in R&D investment, the Company delivers magnet-to-magnet short-loop recycling that uses 88% less energy and reduces carbon emissions by 85% compared to conventional methods. HPMS accepts a wide range of magnet-bearing feedstocks - including end-of-life EV motors, data-center and industrial equipment, consumer electronics, and manufacturing scrap - enabling recovery of magnet-grade material without chemical processing. Selected by the U.S. State Department as a Minerals Security Partnership project, HyProMag USA is targeting a potential 10% share of the U.S. domestic magnet supply within five years, reinforcing supply chain security and resilience for technologies critical to national and economic competitiveness. This target is management's estimate based on current market conditions.

HyProMag USA is owned 50:50 by CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) ("CoTec") and HyProMag Limited. HyProMag Limited is 100 percent owned by Maginito Limited, which is owned on a 79.4/20.6 percent basis by Mkango Resources Ltd (AIM/TSX-V: MKA) and CoTec.

For more information, please visit www.hypromagusa.com

For further information, please contact:

John Singleton - Director - [email protected]
Will Dawes - Director - [email protected]
Eugene Hercun - Company Communications - +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the Texas Facility, the Feasibility Study, potential future employment and production, the entering of the lease agreement for the Texas Facility and the benefits to the Company which may be implied from such statements.

Because forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to known and unknown risks and uncertainties affecting the Company, including but not limited to: resource and reserve risks; environmental risks and costs; permitting and regulatory risks; labor and employment costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; equipment leasing and availability; heavy equipment demand and availability; contractor and subcontractor performance; worksite safety issues; project delays and cost overruns; extreme weather events; and social, transport, or geopolitical disruptions.

The Company assumes no obligation to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release.

Disclaimers

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

All operational, technical, and economic projections are based on the Feasibility Study and management estimates and are subject to material risks and uncertainties.

Inclusion in the Minerals Security Partnership does not imply endorsement of the commercial merits, technical feasibility, or economic viability of the Project by the U.S. State Department or any other department, agency, commission, or entity of the U.S. Government.

ⁱ https://hypromagusa.com/hyprom ag-usa-expands-feedstock-supply-agreementwith-global-electronics-recycler-intelligent-lifecycle-solutions/
ⁱⁱhttps://www.cotec.ca/news/hypromag-usa-feasibility-study-demonstrates-robust-economics-and-the-opportunity-to-develop-a-major-new-domestic-source-of-recycled-rare-earths-magnets-for-the-united-states
ⁱⁱⁱhttps://cotec.ca/news/hypromag-usa-expands-detailed-engineering-phase-to-include-three-hpms-vessels-and-initiates-concept-studies-for-further-expansion-and-complementary-long-loop-recycling
^iv Conventional leach, extraction purification and precipitation process
^vhttps://cotec.ca/news/hypromag-usas-iso-compliant-product-carbon-footprint-study-confirms-exceptionally-low-co2-footprint-of-235-kg-co2-eq-per-kg-of-ndfeb-cut-sintered-block
^vihttps://hypromagusa.com/hypromag-usa-to-commission-scoping-study-to-triple-capacity/
^vii https://hypromagusa.com/hypromag-usa-project-update-for-its-rare-earth-magnet-recycling-and-manufacturing-plants-in-the-united-states/

SOURCE: HyProMag USA

View the original press release on ACCESS Newswire

A.Lavoie--SMC