Business
CoTec Investment MagIron Acquires Reynolds Pellet Plant and Launches United States Based DR Grade Pellet and Merchant Pig Iron Strategy
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / December 22, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to...
About this update from Cotec Holdings Corp
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / December 22, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note MagIron LLC's ("MagIron") press release dated December 19, 2025. CoTec owns 16.5% of the equity in MagIron on a fully diluted basis.","length":325,"tagName":"p"},{"type":"text","content":"MagIron announced that it has entered into a binding Asset Purchase Agreement ("APA") to acquire an iron ore pelletizing plant located near Reynolds, Indiana (the "Reynolds Pellet Plant") from Altos Hornos De Mexico, S.A.B De C.V. ("ASHMSA") (the "Acquisition"). The Acquisition is subject to the satisfaction of certain conditions precedent and is expected to close before December 31, 2025. The Acquisition is a significant milestone in MagIron's strategy to produce Direct Reduction ("DR") grade pellets and, over time, establish the U.S.'s first integrated merchant pig iron operation.","length":647,"tagName":"p"},{"type":"text","content":"The Reynolds Pellet Plant is a modern straight grate, past-producing, restart-ready pelletizer benefiting from approximately $440 million of prior investment. The facility has previously operated at an annualized run-rate of approximately 2.2 million tonnes per annum ("mtpa") of pellets and was designed to expand to 3.0 mtpa of pellets with limited additional capital. The Reynolds Pellet Plant was previously integrated with MagIron's existing iron ore concentrating facility in Minnesota before being placed into care and maintenance in 2016.","length":560,"tagName":"p"},{"type":"text","content":"Following completion of the Acquisition, MagIron will own 100% of a vertically integrated portfolio of assets including an iron ore concentrator, a rail load out facility and a pelletizer which were originally built at a total cost of approximately $660 million.","length":262,"tagName":"p"},{"type":"text","content":"These integrated facilities will allow MagIron to not only restart iron oxide pellet production relatively quickly, but also to pursue the development of the U.S.'s first vertically integrated merchant pig iron producer. To advance this strategy, MagIron is working with Primetals Technologies, a world leader in the fields of engineering and plant...