HyProMag USA Secures Potential $92 Million Financing for Rare Earth Facility

An update from EastCoal ( (TSE:CTH) ) is now available.

HyProMag USA, a joint venture between CoTec Holdings Corp. and Mkango Resources Ltd., has received a letter of interest from the U.S. Export-Import Bank for potential financing of up to $92 million for its rare earth recycling and magnet manufacturing facility in Texas. This project aligns with U.S. initiatives to increase domestic production of critical minerals, promising to enhance the country’s rare earth supply chain and create significant employment opportunities in the magnet manufacturing sector.

More about EastCoal

CoTec Holdings Corp. is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange and the OTCQB, focusing on revolutionizing the global metals and minerals industry through innovative and environmentally sustainable technologies. The company is committed to driving the sector toward a low-carbon future.

Average Trading Volume: 18,520

Technical Sentiment Signal: Buy

Current Market Cap: C$59.39M

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