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VANCOUVER, BC / ACCESS Newswire / August 4, 2026 / CoTec Holdings Corp. (TSXV:CTH,OTC:CTHCF)(OTCQX:CTHCF) ("CoTec" or the "Company") is pleased to announce that MagIron LLC ("MagIron"), a US based company in which it owns an approximately 17% fully diluted equity interest, has announced the completion of a positive pig iron concept and economic study for its Minnesota based iron ore resources and iron ore concentrator and Indiana based pelletizing facilities (the "Study").
The Study was completed by Primetals Technologies ("Primetals"), a recognized global leader in metallurgical plant solutions and iron and steelmaking technologies, evaluating the development of large-scale granulated pig iron production to be integrated with MagIron's existing facilities.
The Study confirms three technically credible pathways to the production of approximately two million tonnes per annum of granulated pig iron at the MagIron facilities and supports MagIron's strategy to establish itself as a key supplier of high-quality iron units into the United States.
The Study indicates that MagIron is uniquely positioned to supply both DR-grade iron ore pellets and merchant pig iron to the U.S. steel industry. MagIron states that it intends to, subject to more detailed technical and feasibility studies, advance the development of domestic pig iron production while retaining the flexibility to produce and sell DR-grade pellets, allowing MagIron greater flexibility to respond to customer requirements and market conditions while using the same underlying resource base and existing processing and pelletizing infrastructure.
The indicative economics from the Study are compelling and MagIron would be able to leverage off its existing infrastructure with an aggregate replacement value of approximately US$1.3 billion.
CoTec CEO and MagIron Executive Chairman Julian Treger stated, "The positive result from the Study is an important milestone for MagIron. It highlights a number of advantages that we believe would be extremely difficult to replicate by other potential market participants: a very large domestic iron ore resource, substantial existing processing and pelletizing infrastructure, access to established logistics and the ability to produce high-quality, low-phosphorus iron units. At an initial production level of approximately two million tonnes per annum, MagIron believes it could meet up to half of current U.S. merchant pig iron requirements. Over time, MagIron's resource base could provide the optionality to expand even further. If confirmed by further technical and feasibility studies, MagIron could be uniquely positioned to supply both DR-grade pellets and pig iron, providing significant flexibility to respond to both customer demand and market changes."
For further information, please visit the MagIron LLC website.
The information in this press release concerning MagIron and the Study has been obtained from MagIron's public disclosure, has not been independently verified by CoTec, and CoTec assumes no responsibility for its accuracy or completeness.
About CoTec
CoTec Holdings Corp. (TSXV:CTH,OTC:CTHCF)(OTCQX:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.
CoTec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.
From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.
For more information, please visit www.cotec.ca
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to MagIron, its potential expansion into pig iron, the future successful outcome of further pig iron studies and management's expectations around the successful restart of the MagIron operations and the future value of its investment in MagIron and its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: CoTec Holdings Corp.
View the original press release on ACCESS Newswire
