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Germany
Remloy (ex-Heraeus Remloy)
A German magnet recycler in Bitterfeld-Wolfen that melts end-of-life NdFeB magnets and alloys into NdFeB alloy powder for bonded and hot-deformed magnet makers. Built by Heraeus, it was bought by Mkango Resources in August 2026.
Points to check
Facts from the sources on this page that a reader should weigh before relying on the company's own figures.
- Mkango stated on May 20, 2026 that the Remloy assets were non-revenue generating; first commercial sales of NdFeB alloy powder were targeted by the end of 2026.
- Mkango's half-year 2026 results report customer offtake discussions but no binding offtake agreement.
- Output in 2026 is small-scale; Mkango targets reaching at least 500 t/yr of alloy powder over the next few years.
- EUR 3M of the EUR 8M purchase price is deferred and payable in cash on August 28, 2028.
- Mkango's forward-looking statements assume that funding for Remloy's working capital, expansion and the deferred consideration will be available on acceptable terms.
At a glance
- Founded
- Not established in public sources — Set up as a start-up inside the Heraeus Group (Hanau, Germany); Heraeus announced production start at the Bitterfeld-Wolfen plant on May 14, 2024. The business was sold by Heraeus Amloy Technologies GmbH to Mkango Resources Ltd., with completion announced August 31, 2026. No founding year for the start-up is stated in the sources opened.
- Headquarters
- Bitterfeld-Wolfen, Saxony-Anhalt, Germany (parent Mkango Resources Ltd. is a British Columbia, Canada company)
- Ownership
- Private operating business, 100% owned by Mkango Resources Ltd. (AIM: MKA; TSX-V: MKA) since completion announced August 31, 2026; previously part of the Heraeus Group (Heraeus Amloy Technologies GmbH).
- Stage
- Ramping. Bitterfeld plant fully commissioned (production start announced May 2024) but running at small scale; non-revenue as of May 2026, first commercial sales targeted by end-2026, target of at least 500 t/yr alloy powder over the next few years.
- Listing
- TSXV: MKA · AIM: MKA
Listed through its parent or partner. Wholly owned by Mkango Resources since August 2026; sold by Heraeus.
Investor relations - Revenue
- Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.
Capacity
Each date below links to the document the figure came from. A capacity figure with no source is not on this page.
| What | Figure | Status | As of |
|---|---|---|---|
| NdFeB alloy powder from recycled magnets and alloys, Bitterfeld plant | At least 500 t/yr (target capacity, to be reached over the next few years) | Commissioned | Aug 2026 |
| Recycled rare earth magnet processing, Bitterfeld-Wolfen plant (Heraeus launch statement) | Up to 600 t/yr initial, expandable to 1,200 t/yr (stated at production start) | Historical | May 2024 |
| Feedstock stockpile transferred with the business (end-of-life magnets, rare earth alloys, other raw materials) | About 345 t at completion (inventory, not annual capacity) | Operating | Aug 2026 |
Narrative
Heraeus Remloy began as a start-up within the Heraeus Group, the family-owned technology company based in Hanau, Germany; the name stands for "Rare Earth Magnet Alloy." Working with Fraunhofer IWKS, it developed a process in which end-of-life neodymium-iron-boron (NdFeB) magnets are melted down and processed into new alloys. On May 14, 2024, Heraeus announced that production had started at a plant in Bitterfeld-Wolfen, Germany, which it described as Europe's largest recycling plant for rare earth magnets, with an initial capacity of up to 600 t/yr expandable to 1,200 t/yr. The products named were NdFeB powders for bonded and hot-formed magnets and for hydrogen storage components. On May 20, 2026, Mkango Resources Ltd. (AIM and TSX-V: MKA) announced an agreement to buy the Remloy business from Heraeus Amloy Technologies GmbH for EUR 8 million in cash. Mkango then described the plant as fully commissioned and in its start-up phase, not yet generating revenue, with production test runs for customer samples under way, a total capacity of 500 t/yr of NdFeB alloy, and first commercial sales of alloy powder targeted by the end of 2026. Mkango announced completion on August 31, 2026: EUR 5 million was paid at closing and EUR 3 million is due on August 28, 2028, the second anniversary of completion. A stockpile of about 345 t of end-of-life magnets, rare earth alloys and other raw materials transferred with the business. Mkango states a target of at least 500 t/yr of NdFeB alloy powder over the next few years, with current output at small scale for product optimization, initial sales and customer samples. Its half-year report to June 30, 2026 describes customer discussions but no binding offtake. Mkango plans to link Remloy with its HyProMag short-loop recycling business, including exchanges of feedstock.
Where public sources disagree
- Capacity: Heraeus's May 14, 2024 release gives up to 600 t/yr, expandable to 1,200 t/yr; Mkango's May 20, 2026 and Aug 31, 2026 releases give 500 t/yr of NdFeB alloy (total capacity) and a target of at least 500 t/yr of NdFeB alloy powder.
- Expansion timing within Heraeus's May 14, 2024 release: the summary bullets say expansion to 1,200 t/yr in the near term, the body text says in the medium term.
- Agreement date: Mkango's release and the Hargreaves Lansdown AIM bulletin date the agreement May 20, 2026; Baker McKenzie's newsroom item is dated May 26, 2026.
Latest reports
| Period | Published | Report |
|---|---|---|
| H1 / Q2 2026 (six months to 30 Jun 2026; FY ends 31 Dec) | 2026-08-31 | Mkango Resources Limited MD&A Q2 2026 (release: 'Mkango Releases Half Year 2026 Financial Statements and Management's Discussion and Analysis') |
| Q1 2026 (quarter to 31 Mar 2026) | 2026-06-01 | Mkango Releases Q1 2026 Results |
| FY 2025 (year to 31 Dec 2025) | 2026-04-30 | Mkango Releases Year End 2025 Financial Statements and Files NI 43-101 Definitive Feasibility Study Report for the Songwe Hill Project (MD&A Q4 FY2025, dated 30 April 2026) |
| Q3 2025 (quarter to 30 Sep 2025) | 2025-12-01 | Mkango Releases Q3 2025 Results |
Across these reports
Between the Q3 2025 and H1 2026 reports, Tyseley's cumulative recycled NdFeB alloy powder output rose from about 3 t to 9.2 t (7.4 t shipped), Pforzheim began commissioning in April 2026 without starting production, and Mkango's cash rose to US$13.6 million. The HyProMag USA commissioning, USA Notice to Proceed, Germany production start and SPAC F-4 dates all moved later. Cash rose from US$3.1M to US$13.6M in the first half of 2026 on a raise earmarked for recycling. Songwe's first-production target has moved from 2018 to 2025 to 2029, and the SPAC merger holding Songwe and Pulawy has missed its Q4 2025 and Q3 2026 closing targets.
| Measure | What the reports show |
|---|---|
| HyProMag UK (Tyseley) recycled NdFeB alloy powder production, cumulative | About 3 t produced since first production (Q3 2025) → 9.2 t produced, 7.4 t shipped (FY 2025 report) → 9.2 t oxidised recycled NdFeB alloy powder plus 10.1 t HPMS powder produced, 7.4 t shipped (H1 2026); shipments unchanged between the FY 2025 and H1 2026 reports. |
| Cash | US$2 million (30 Sep 2025) → US$3.1 million (31 Dec 2025) → US$13.6 million (30 Jun 2026), after a GBP 11.7 million placing after year-end. |
| Net loss (six months) | $3,659,383 (H1 2025) → $3,019,373 (H1 2026). |
| HyProMag USA planned capacity (Dallas-Fort Worth) | Base case 1,552 t/yr (about 941 t/yr recycled sintered NdFeB magnets plus 611 t/yr co-products); expansion studies started January 2026 on 4,656 t/yr NdFeB; lease signed December 2025. |
| HyProMag Germany (Pforzheim) | Equipment installation nearing completion (Q3 2025) → first commissioning runs April 2026 and official opening 28 Apr 2026, 750 t/yr permitted, initial about 100 t/yr (FY 2025 report) → production not yet started, commissioning continuing (H1 2026). |
| Remloy recycling plant acquisition (Bitterfeld, Germany) | Completed after 30 Jun 2026: EUR 5 million upfront and EUR 3 million deferred to 2028; the plant targets at least 500 t/yr of NdFeB alloy powder. |
| cash | US$1.16M at 31 Dec 2024; US$1.21M at 30 Jun 2025; US$3.06M at 31 Dec 2025; US$13.6M at 30 Jun 2026 after the Apr 2026 GBP 12.5M raise; EUR 5M paid for Remloy on 28 Aug 2026 (EUR 3M deferred to Aug 2028). |
| resource | M+I rose from 21.03 Mt @ 1.41% TREO (2019 estimate) to 38.1 Mt @ 1.15% TREO at 0.55% cut-off (effective Jun 2025); Inferred from 27.54 Mt @ 1.33% to 55.9 Mt @ 1.05%. Reserve unchanged at 18.1 Mt @ 1.16% TREO between the 2022 DFS and the 2026 FS. |
| study | Songwe post-tax NPV10 US$559.0M / IRR 31.5% (Jul 2022 DFS) to US$339M / IRR 24.3% nominal (Mar 2026 FS) at the same stated output (5,954 t/yr TREO, 1,953 t/yr NdPr oxide in MREC); initial capex incl. contingency US$311.2M to US$325.5M. |
| capacity | Pulawy described as 2,000 t/yr Nd/Pr oxides (Mar 2025) and as 13,430 t/yr REO feed with 3,037 t/yr Nd oxide + 920 t/yr Pr oxide output in the Mar 2026 PFS / Jun 2026 presentation. |
| study | First Pulawy PFS published 19 Mar 2026: capex ~US$212M, post-tax NPV10 ~US$779M, IRR 39.7%. |
Stated dates
| Target | First stated | Now | Status |
|---|---|---|---|
| HyProMag Germany initial production | commissioning of key equipment by end of 2025, initial production Q1 2026 (Q3 2025 report) | first commissioning runs April 2026; production not yet started as of 2026-08-31 | moved later |
| HyProMag USA commissioning | mid-2027 (Q3 2025 report) | magnet finishing H1 2027; integrated HPMS section Q2 2028 (H1 2026 report) | moved later |
| HyProMag USA Notice to Proceed | Q1 2026 (Q3 2025 report) | not announced as of 2026-08-31; lease in effect and preparatory work started 2026-06-03 | moved later |
| Form F-4 effectiveness for the Mkango Rare Earths / Crown PropTech SPAC merger (Nasdaq listing) | Q1 2026 (Q3 2025 report) | F-4 filed May 2026, not yet effective at 2026-08-31; no closing date given | moved later |
| HyProMag UK scale-up to 100-350 t/yr, then 1,000 t/yr | phased expansion 'beginning next year', i.e. 2026 (Q3 2025 report) | scaling toward 100-350 t/yr, no date (H1 2026 report) | not yet due |
| Songwe Hill first / full production | First production 2018 (Nov 2015 PFS); then mining start Feb 2025 and full production Sep 2025 (Jul 2022 DFS) | Capital spending to start Jul 2027 (Mar 2026 FS); construction 2027-2029 and full production 2029 (Jun 2026 MKAR investor presentation) | moved later |
| Songwe large-scale mining license | Mining Development Agreement signed Jul 2024 (no license grant date stated) | Application with Malawi Mining Regulatory Authority pending (H1 2026 MD&A, 31 Aug 2026); Minister Thoko Tembo said on 20 Jul 2026 there is a moratorium on issuing mining licenses | not yet due |
| MKAR / CPTK SPAC closing and Nasdaq listing | Q4 2025 (Jul 2025 BCA announcement) | Q3 2026 (Jun 2026 investor presentation); not closed as of 21 Sep 2026, still subject to Nasdaq approval and shareholder votes | moved later |
| Pulawy commissioning / production | Commissioning start Oct 2028; ramp-up Q2 2029 to Q1 2030 (Mar 2026 PFS) | Same schedule restated in H1 2026 MD&A (Aug 2026); June 2026 presentation shows full production 2030 | not yet due |
| Songwe final investment decision | not dated in public documents found | Not reached as of Jul 2026 (Nyasa Times, 19 Jul 2026) | not yet due |
Figures are as the company reported them, linked to each report. This summarizes what changed between reports; it is not a view on the company or its shares.
Sources
- Mkango completes acquisition of Remloy — Mkango Resources via ACCESS Newswire (2026-08-31)
- Remloy plant production start — Heraeus (2024-05-14)
- Mkango agreement to acquire Heraeus Remloy — Mkango Resources via ACCESS Newswire (2026-05-20)
- MKA Half Year 2026 Results — Mkango Resources via ACCESS Newswire (2026-09-01)
- Heraeus Remloy production start press release — Heraeus Remloy (2024-05-14)
- Heraeus Remloy business page — Heraeus (2026-10-16)
- Heraeus Remloy start-up page (process with Fraunhofer IWKS) — Heraeus (2026-10-16)
- Mkango agrees acquisition of Remloy for EUR 8M — Hargreaves Lansdown AIM bulletin (2026-05-20)
- Mkango agreement with Heraeus (legal adviser note) — Baker McKenzie (2026-05-26)
- Mkango to acquire Heraeus Remloy — Magnetics Magazine (2026-05-20)
How this page is sourced
Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.
What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.
Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.
Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.
Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.
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