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CoTec Holdings ( (TSE:CTH) ) has provided an update.
CoTec Holdings Corp. announced progress in its joint venture, HyProMag USA, which is advancing the Detailed Design phase of its rare earth magnet recycling and manufacturing hub in Dallas-Fort Worth. The project, led by PegasusTSI Inc. and BBA USA Inc., has completed 25% of the design, incorporating insights from UK and German facilities. HyProMag USA aims to enhance magnet performance with advanced techniques and has identified potential hub sites, with expansion plans in Nevada and South Carolina. The initiative aligns with the U.S. Defence Production Act, promising a secure, long-term magnet recycling and production facility in the U.S., thereby strengthening CoTec’s industry positioning and offering significant implications for stakeholders.
More about CoTec Holdings
CoTec Holdings Corp. is focused on redefining resource extraction and recycling, particularly in the realm of rare earth magnets and strategic materials. The company integrates breakthrough technologies with strategic assets to create secure, sustainable, and low-cost supply chains for the United States and its allies. CoTec’s mission is to accelerate the energy transition while bolstering U.S. economic and national security through investments in disruptive technologies that transform marginal assets and waste streams into high-value critical minerals.
Average Trading Volume: 46,519
Technical Sentiment Signal: Buy
Current Market Cap: C$93.17M
Find detailed analytics on CTH stock on TipRanks’ Stock Analysis page.