CoTec JV HyProMag USA starts long-lead equipment orders for Texas rare earth magnet recycling hub

  • CoTec’s HyProMag USA JV began procuring long‑lead equipment for its Texas rare earth magnet recycling hub, targeting H2 2027 commissioning.
  • Updated engineering points to 1,526 metric tons a year of payable NdFeB products over 40 years, including 1,048 tons of recycled magnets.
  • Post‑tax NPV estimated at USD 797 million with a 37.1% real IRR on forecast prices; USD 416 million with a 26.3% IRR on current prices.
  • Initial capital cost estimated at about USD 152 million over a one‑year construction phase; construction start targeted for Q4 2026.
  • Power talks opened with Oncor for the Northlake, Texas site; financing discussions underway with three financial institutions.


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