CoTec-Backed HyProMag USA Maps Tripling of U.S. Rare Earth Magnet Capacity by 2029

CoTec Holdings ( (TSE:CTH) ) just unveiled an announcement.

HyProMag USA, majority-owned by CoTec Holdings, has completed expansion concept studies for its South Carolina and Nevada hubs that would lift its total U.S. NdFeB magnet and alloy output from 1,552 to 4,656 metric tons per year by 2029, complementing its first Texas facility and underpinning a scalable domestic recycling and manufacturing platform. The expansion plan, which now advances to pre-feasibility work, outlines three modular production scenarios across hubs in Texas, South Carolina and Nevada, and delivers a conceptual post-tax NPV of up to $2.18 billion and a real IRR of 38.7% based on forecast prices, signaling strong economics that support accelerated build-out of U.S. rare earth magnet capacity and reinforce HyProMag USA’s positioning in efforts to bolster domestic supply chain resilience and prepare for a future public listing.

More about CoTec Holdings

CoTec Holdings Corp. is a Vancouver-based company with a majority interest in HyProMag USA, a U.S.-based joint venture focused on rare earth permanent magnet recycling and manufacturing. HyProMag USA’s operations center on producing recycled neodymium-iron-boron (NdFeB) magnets and alloy powders, with a strategy to build a scalable network of manufacturing hubs across key U.S. states to serve domestic high-tech and industrial supply chains.

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