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CoTec Holdings ( (TSE:CTH) ) has shared an announcement.
CoTec Holdings Corp. announced that its investment, MagIron LLC, has successfully completed pilot plant tests in partnership with the University of Minnesota, demonstrating exceptional iron recovery rates. This achievement is a significant milestone in MagIron’s feasibility study for restarting Plant 4 in Grand Rapids, Minnesota, and positions the company to supply high-grade feedstock for the Electric Arc Furnace steel sector. The results indicate that MagIron’s new process can deliver outstanding recovery and product quality, reinforcing its potential to become a major player in the US steel industry. These findings will be incorporated into the forthcoming Mineral Resource and Reserve estimate, enhancing CoTec’s value proposition as a shareholder.
More about CoTec Holdings
CoTec Holdings Corp. is focused on redefining the future of resource extraction and recycling, primarily dealing with rare earth magnets and strategic materials. The company integrates breakthrough technologies with strategic assets to create secure, sustainable, and cost-effective supply chains. CoTec aims to accelerate the energy transition and strengthen critical mineral supply chains by investing in disruptive technologies that transform marginal assets and waste into high-value critical minerals.
Average Trading Volume: 90,828
Technical Sentiment Signal: Buy
Current Market Cap: C$165.7M
Learn more about CTH stock on TipRanks’ Stock Analysis page.