CoTec and Mkango Appoint Lead Engineers PegasusTSI and BBA

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: Apr 21 2025

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Source: Yahoo Finance

EPCM Services Announcement: CoTec Holdings Corp. and Mkango Resources Ltd. have engaged PegasusTSI Inc. and BBA USA Inc. to provide engineering, procurement, and construction management services for the HyProMag USA project in Texas, aimed at producing rare earth magnets. The project is expected to generate first revenue by H1 2027 and supply 10% of U.S. domestic demand for NdFeB magnets within five years.
Environmental and Economic Impact: The project will create approximately 90-100 skilled jobs and aims to establish a sustainable, low-carbon supply chain for neodymium/iron/boron (NdFeB) permanent magnets, significantly reducing reliance on foreign sources while contributing to the development of critical minerals supply chains in North America.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.