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CoTec Holdings ( (TSE:CTH) ) has provided an announcement.
CoTec Holdings Corp. announced an update on the progress of its joint venture, HyProMag USA, in developing a rare earth magnet recycling and manufacturing hub in Dallas-Fort Worth. The project, which incorporates advanced techniques and learnings from facilities in the UK and Germany, is currently 25% through its Detailed Design phase. The company is also exploring expansion options in Nevada and South Carolina, and a Concept Study for a new recycling process. This development positions CoTec as a key player in the U.S. rare earth magnet recycling industry, aligning with the U.S. Defence Production Act requirements and enhancing national security by providing a secure, long-term supply of recycled magnets.
More about CoTec Holdings
CoTec Holdings Corp. is a company focused on redefining the future of resource extraction and recycling, particularly in 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 aims to accelerate the energy transition and strengthen U.S. economic and national security by investing in disruptive technologies that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.
Average Trading Volume: 46,519
Technical Sentiment Signal: Buy
Current Market Cap: C$93.17M
For detailed information about CTH stock, go to TipRanks’ Stock Analysis page.