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Monica is being interviewed on Times TV in Malawi, 8.30pm today for premium viewers and repeated 4.30 pm tomorrow. Don’t know if we will be able to view it in UK
Things should get tasty soon:-
https://www.cotec.ca/news/cotec-holdings-corp-subsidiary-hypromag-usa-llc-to-benefit-from-usa-25-tariff-on-permanent-magnets
Keep adding
Any reason we don't just flog the mining side to an Indian outfit and be done with it.
I think we are up to about £25M since the start of this saga. Get that back and move on?
Ties with India. Trade agreements signed. Some Indian interest in mining.
If India's allowed 16 agreements, MKA should get just the one MDA surely. Bit overdue.
Https://www.mining.com/web/australias-top-pension-boosts-critical-minerals-to-8-billion/
The current Cotec focus for HyProMag USA on Fort Worth, Texas, is interesting. Big Lockheed Martin presence there, namely Air Force Plant 4 which houses Lockheed Martin's aeronautics divisional headquarters and produced the F35 fighter there. The site employs 17,000 people.
Retired Vice-Admiral Robert “Bob” Harward, now of Cotec, was formerly a Chief Executive of Lockheed Martin...
CoTec Holdings Corp. Subsidiary Hypromag USA LLC. To Benefit From USA 25% Tariff On Permanent Magnets
Vancouver, British Columbia – May 16, 2024 – CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (“CoTec” or the “Company”) noted the White House’s announcement that beginning 2026 the US Government will impose a 25% tariff on imports of Chinese permanent magnets.
CoTec holds a 60.3 percent equity interest (50% direct and 10.3% indirect) in HyProMag USA LLC. (“HyProMag USA”), a company that is targeting the deployment of the revolutionary HyProMag rare earth element (“REE”) recycling technology in the USA. The remaining 50% direct equity interest in HyProMag USA is held by Maginito Limited, a 79.4% subsidiary of Mkango Resources Ltd.
HyProMag has licensed the patented technology HPMS (Hydrogen Processing of Magnet Scrap) which is used to extract NdFeB magnets from electrical products such as hard disk drives and EV motors. The extracted NdFeB powder is in the form of an alloy which can be re-processed into different forms and sold back into the supply chain as rare earth permanent magnets.
HyProMag USA is currently completing a feasibility study for the roll-out of the HyProMag technology at three sites in the USA. The current focus is on Texas, Fort Worth for the first recycling spoke and magnet production facility (~500 tonnes of NdFeB finished permanent magnets and alloys per annum).
Julian Treger, CoTec CEO commented; “This announcement will provide further support to the business case of HyProMag USA. Subject to positive conclusion of the feasibility study, HyProMag USA is targeting first revenue by 2026, coinciding with the commencement of these tariffs.”
Think towards second half of year when they say they'll produce there will be upwards movement just wonder if they'll get taken out at some point when proven production is shown?
Canada seems to be now trending upwards. You can feel the pressure building
BBC News - Faisal Islam: Could the US economy be doing too well? - BBC News
https://www.bbc.co.uk/news/articles/cd131v26dneo
The speed and scale of the US push for eV and battery manufacture in the US is mind-boggling. I'm sure Cotec will be considering sites in the SE US Battery Belt.
Hopefully we'll hear shortly about the short loop plant commissioning (by end June). Good time for MKA to put out some marketing material.
March 25 RNS: Near term milestones for the recycling business include full commissioning of the recycling plant in the UK with initial commercial sales of NdFeB by HyProMag targeted for H2 2024, commissioning of the pilot scale (chemical route) recycling plant in UK to produce rare earth oxides and carbonates in H1 2024
There have been numerous rounds of Section 301 tariffs since the start of the US-China trade and technology war in 2018, but none of them has included rare earth magnets or materials.
According to Tuesday’s statement, “the tariff rate for certain other critical minerals will increase from zero to 25% in 2024.”
The consensus is that Neodymium will be included on the "other critical mineral" list.
Therefore tariffs will be applied immediately as opposed to 2026 for permanent magnets.
This should do wonders for Nd pricing and subsequent investments into Rare earth projects!
James Dyson still sucking up a high future profit at 7p.
Not long now, first recenues from uk recycling.
RE shock - the Neodymium price hasn't reacted - yet.
Don't worry, it's coming ...
Https://www.mining.com/crma-rare-earth-elements-a-potential-blindspot-for-eu-policymakers-and-industry-report/#:~:text=%E2%80%9CThe%20outlook%20for%20rare%20earths,industry%2C%E2%80%9D%20the%20firm%20notes.
Following an in-depth review by the United States Trade Representative, President [Joe] Biden is taking action to protect American workers and American companies from China’s unfair trade practices,” the White House said.
Imports of Chinese permanent magnets will be subject to a 25% tariff beginning in 2026, the White House statement said.
“There are several types of permanent magnet but around 80% of the market is dominated by two of them: sintered neodymium iron boron [NdFeB] rare earth magnets, and hard ferrite magnets,” John Ormerod, head of magnetics and metal consultancy JOC, said.
Other types include samarium cobalt rare earth magnets, alnico (aluminium-nickel-cobalt) and bonded NdFeB rare earth magnets.
Sintered NdFeB rare earth magnets are critical components in the motors of electric and hybrid vehicles and in offshore wind turbines, along with many other industrial, defense, medical and electronics applications.
The first time critical minerals have been included in tariffs
There have been numerous rounds of Section 301 tariffs since the start of the US-China trade and technology war in 2018, but none of them has included rare earth magnets or materials.
According to Tuesday’s statement, “the tariff rate for certain other critical minerals will increase from zero to 25% in 2024.”
https://www.fastmarkets.com/insights/us-to-impose-25-import-tariffs-on-chinese-rare-earth-magnets/#:~:text=There%20have%20been%20numerous%20rounds,to%2025%25%20in%202024.%E2%80%9D
I am completely shocked that this hasn't moved north on that news re china magnet tarrifs. Mka have a forward plan for recycle plants in uk, Germany and US within 2 years.
People will be knocking down the door for these highly green untarriffed gems.
Freeing up some funds this week hopefully to add more.
Maybe the uk gov could stop just talking.
Give these guys some funding and get on a plane.
Good article spot on. Malawi take note. Don't be greedy. Issue MDAs.
Local media not impressed
https://miningtradenews.net/promotion-of-mining-investment-should-go-beyond-holding-an-investment-forum/
Https://www.nyasatimes.com/chakwera-leads-malawi-in-signing-16-trade-agreement-with-37-indian-investors-move-to-boost-exports/
Ties with India. Trade agreements signed. Some Indian interest in mining.
If India's allowed 16 agreements, MKA should get just the one MDA surely. Bit overdue.
Another reason recycling is the future!!
https://uk.news.yahoo.com/more-70-key-resources-imperilled-134833358.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAAJ2i1QyUxLAoZMvf4IqDld7TyPE3zcopZG1BoBNP7IlngMVVeGKTWdJ4GRFKqVktwxDyPutz6m15tnTfIpBddtoktEJh-Mxj_3CO-Bt9zKnIx_DV_EgVaru-IiPbTjR1GIjMs3F_g7jV3x10w_Mhq-KINkIYJEPh6nhU0q_Jk6pV
Given the significant exchange of shares around the 7p mark there are a few smart investors that see a large potential here and are positioning accordingly
"USA set to impose 100% tariff on Chinese Electric Vehicles imports"
EU banging the same drum.
If you can't see this coming then ........
Topping up Monday.
All ducks being aligned ahead of next significant news items.
Feels like all in on recycling. Revenue generation will double this. Not priced in at min