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Events / Regulatory / UK Funds Rare Earth Magnet Recycling
Regulatory grant funding

UK Funds Rare Earth Magnet Recycling

Analysis based on 6 articles · First reported Apr 14, 2026 · Last updated Apr 14, 2026

Sentiment
70
Attention
4
Articles
6
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The grant funding for the REACT UK project is expected to positively impact the automotive and rare earth magnet recycling sectors in the United Kingdom. It strengthens the market position of Novo Resources and its subsidiaries, HyProMag and Mkango Resources — Mkango Rare Earths UK Limited, by accelerating the development of sustainable supply chains for high-grade automotive magnets.

Automotive Mining Chemicals
Event Summary

HyProMag and Mkango Resources — Mkango Rare Earths UK Limited, subsidiaries of Novo Resources, have been awarded a significant grant from the United Kingdom government for the Rare Earth Automotive Circular Technologies for the UK (REACT UK) project. This £6.5 million project, with £3.2 million funded by the UK Government, aims to establish a full circular supply chain for rare earth neodymium-iron-boron (NdFeB) magnets used in the automotive sector. HyProMag leads a consortium including Mkango Resources — Mkango Rare Earths UK Limited, EMR Group, Tata Motors — Jaguar Land Rover, Less Common Metals, and The University of Birmingham. The project will focus on recovering, recycling, and remanufacturing NdFeB magnets from end-of-life hybrid and electric vehicles using innovative hydrogen-based processing. This initiative is a crucial step for the United Kingdom's transition to zero-emission mobility, enhancing domestic manufacturing capabilities and promoting circular economy principles.

Entities Involved
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HyProMag
HyProMag is the lead partner in the REACT UK project, receiving a substantial grant. This project will accelerate the development of higher-grade magnets for electric drive motor applications and solidify HyProMag's early mover advantage in rare earth magnet recycling.
Importance 95.0 Sentiment 75.0
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Novo Resources
Novo Resources' subsidiaries, HyProMag Ltd and Mkango Resources — Mkango Rare Earths UK Limited, are key partners in the REACT UK project, which received significant grant funding. This project strengthens Novo Resources' position in rare earth magnet recycling and manufacturing.
Importance 90.0 Sentiment 70.0
subs
Mkango Resources — Mkango Rare Earths UK Limited
Mkango Resources — Mkango Rare Earths UK Limited is a collaborative project winner and will receive grant funding for the REACT UK project. This project is a key milestone in establishing an integrated rare earth magnet supply chain in the United Kingdom.
Importance 85.0 Sentiment 70.0
govactor
United Kingdom — Advanced Propulsion Centre
The United Kingdom — Advanced Propulsion Centre partners with United Kingdom — Innovate UK to facilitate the UK Government's DRIVE35 grants, turning innovation into industrial capability for zero-emission mobility.
Importance 75.0 Sentiment 65.0
govactor
United Kingdom — Innovate UK
United Kingdom — Innovate UK partners with the United Kingdom — Advanced Propulsion Centre to deliver the DRIVE35 programme, supporting the REACT UK project.
Importance 65.0 Sentiment 60.0
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Maginito Limited
Maginito Limited, owned by Novo Resources, holds interests in HyProMag and Mkango Resources — Mkango Rare Earths UK Limited, and is central to Novo Resources' strategy in rare earth magnet recycling.
Importance 60.0 Sentiment 65.0
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EMR Group
EMR Group is part of the consortium, developing technologies to extract magnets from end-of-life vehicles and providing feedback to Tata Motors — Jaguar Land Rover design engineers.
Importance 40.0 Sentiment 50.0
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Less Common Metals
Less Common Metals is a consortium member, responsible for converting rare earth oxides into metals and alloys, and processing NdFeB powder into strip cast alloys.
Importance 40.0 Sentiment 50.0
per
Nick Mann
Nick Mann, Managing Director of HyProMag, stated that the project will catalyze a UK supply of magnets for automotive drive motor applications.
Importance 10.0 Sentiment 60.0
per
Nielson Beddoe
Nielson Beddoe, Managing Director of Mkango Resources — Mkango Rare Earths UK Limited, highlighted the REACT UK project as a key milestone for an integrated rare earth magnet supply chain.
Importance 10.0 Sentiment 60.0
per
Ian Constance
Ian Constance, CEO of the Advanced Propulsion Centre, emphasized the UK's determination to lead in zero-emission mobility through such funding initiatives.
Importance 10.0 Sentiment 60.0
per
Will Dawes
Will Dawes, CEO of HyProMag, expressed excitement about the REACT UK project and its role in accelerating higher-grade magnet development.
Importance 10.0 Sentiment 60.0
govactor
United Kingdom — Department for Business and Trade
Importance 0.0 Sentiment 0.0
subs
Tata Motors — Jaguar Land Rover
Importance 0.0 Sentiment 0.0
stock
CoTec Holdings
Importance 0.0 Sentiment 0.0
+ 1 more entities View on Dashboard
Relationships
Novo Resources related ↔ Mkango Resources — Mkango Rare Earths UK Limited
Novo Resources parent ↔ Maginito Limited Novo Resources is the parent company of Maginito Limited, holding a 79.4% controlling equity stake to advance its rare e
Mkango Resources — Mkango Rare Earths UK Limited affiliate ↔ Maginito Limited Mkango Rare Earths UK Limited is an affiliate of Maginito Limited, as both are owned and operated by their mutual parent
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