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An announcement from CoTec Holdings ( (TSE:CTH) ) is now available.
HyProMag USA, a joint venture of CoTec Holdings, has announced an expansion of its Texas facility, significantly increasing its magnet production capacity and improving project economics. The updated valuation of the project shows a post-tax NPV of up to US$780 million, with a strategic review underway for a potential U.S. listing. The expansion aims to reduce U.S. dependence on foreign rare earth magnets, create skilled jobs, and maintain a low carbon footprint, with further plans to secure feedstock and financing for construction.
More about CoTec Holdings
CoTec Holdings Corp. operates in the rare earth permanent magnet recycling and manufacturing industry through its joint venture, HyProMag USA. The company focuses on expanding magnet production capacity and enhancing the economics of its projects to support domestic critical-minerals supply chains in the United States.
Average Trading Volume: 92,009
Technical Sentiment Signal: Buy
Current Market Cap: C$169.7M
Learn more about CTH stock on TipRanks’ Stock Analysis page.