The UK has taken a step towards having its own rare earth magnet production industry following the completion of the Rare Earth Extraction from Audio Products (REAP) Project by Mkango Resources, HyProMag, the European Metal Recycling Limited (EMR) and the University of Birmingham.

Mkango, a Canadian mineral exploration company that owns 25% of HyProMag, said the REAP Project delivered "highly encouraging" results on the potential to build rare earth magnets from recycled parts in vehicles and flat-screen TVs. It was initially launched last November.

The recycling process is underpinned by hydrogen processing of magnet scrap (HPMS) technology, developed initially at the University of Birmingham.

It found that HPMS can be used to create a "new sustainable and low energy impact feedstock, which would otherwise be lost to landfill, for the commercial manufacture of rare earth magnets for the UK supply chain.

Rare earth magnets play a key role in clean energy technologies, including electric vehicles and wind turbine generators, but they are also a key component in electronic devices, including mobile phones, hard disk drives and loudspeakers, Mkango said.

Loudspeakers account for approximately 20% of the current market for rare earth magnets and therefore represent a significant opportunity for rare earth magnet recycling.

William Dawes, chief executive, Mkango, described the completion of the project as a "milestone" that demonstrates a potential "route to market" for rare earth magnets.

Nick Mann, operations general manager, HyProMag, said the REAP Project can advance the "novel techniques required to recycle rare earth magnets from audio products.