HyProMag USA has finalized a long-term lease for its planned rare earth magnet recycling and manufacturing hub in the Dallas-Fort Worth region, marking a major step in its effort to build a domestic supply chain for critical minerals.
The company said the Texas Facility will occupy half of Building 1 at the Ironhead Commerce Center in Denton County. The site sits next to the BNSF intermodal rail link and the Alliance airport, which HyProMag said will support logistics for feedstock and future product shipments.
Julian Treger, CEO of CoTec Holdings Corp., said securing the site represents meaningful progress for the joint venture. “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. 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.”
HyProMag USA is owned equally by CoTec and HyProMag Limited. HyProMag Limited is wholly owned by Maginito Limited, which is controlled by Mkango Resources with a minority interest held by CoTec. The Texas facility will operate as the central hub for a hub-and-spoke short-loop network that includes planned preprocessing sites in Nevada and South Carolina. The company said the project will be designed so that it can be replicated in other US locations.
The facility will use the Hydrogen Processing of Magnet Scrap process developed by the Magnetic Materials Group at the University of Birmingham to recover magnets from end of life products and convert them into new sintered magnets and co-products. The technology has been licensed exclusively to HyProMag Limited.
HyProMag USA said it is targeting commissioning of the Texas facility by mid-2027, subject to permitting and financing. The company expects the project to create about 90 to 100 skilled jobs that support magnet manufacturing and advanced materials processing.
The project forms part of a broader development plan that has advanced through multiple stages since the release of an independent feasibility study that assessed the Texas facility and the preprocessing sites in South Carolina and Nevada.
The study projected annual output of 750 metric tons of recycled sintered magnets and 807 metric tons of associated co-products within five years of commissioning. It also estimated a 40-year operating life for the plant. In March 2025, HyProMag USA said it was expanding detailed engineering work to include three vessels for Hydrogen Processing of Magnet Scrap and initiating concept studies for further expansion and long-loop recycling.
To support future operations, HyProMag USA has partnered with Intelligent Lifecycle Solutions, which has begun stockpiling magnet bearing material to support commissioning of the Texas facility. The company said it has worked closely with the Town of Northlake during the planning stage and continues to evaluate options for future growth as part of ongoing studies with its partners.
