Business
CoTec Investment MagIron Completes Purchase of Reynolds Pellet Plant
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / December 31, 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 31, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note MagIron LLC's ("MagIron") press release dated December 31, 2025, following its prior press release dated December 19, 2025. CoTec owns 16.5% of the equity in MagIron on a fully diluted basis.","length":384,"tagName":"p"},{"type":"text","content":"MagIron announced that it has successfully completed the acquisition of the pellet plant located near Reynolds, Indiana ("Reynolds Pellet Plant") from the Receivership Estate of Altos Hornos De Mexico, S.A.B De C.V. (the "Acquisition") on schedule and in accordance with the Asset Purchase Agreement ("APA").","length":338,"tagName":"p"},{"type":"text","content":"Larry Lehtinen, CEO of MagIron commented: "The completion of this transaction marks a significant milestone for MagIron. We now look forward to implementing our restart strategy and bringing significant investment and job creation to both Minnesota and Indiana."","length":272,"tagName":"p"},{"type":"text","content":"Julian Treger, CoTec CEO commented: "The Reynolds Pellet Plant is a modern straight grate, past producing, restart-ready pelletizer benefitting from approximately $440 million of prior investment. The completion of its acquisition enables MagIron to now focus on the execution of its strategy to become a fully integrated DR pellet producer to America's fast growing Electric Arc Furnace steel industry and pursuing the development of merchant pig iron facilities. CoTec is very supportive of this strategy and believes that, if successful, MagIron could become a significant contributor to the USA steel industry."","length":629,"tagName":"p"},{"type":"text","content":"For more information on this press release, please visit https://magironusa.com","length":79,"tagName":"p"},{"type":"text","content":"About CoTec","length":11,"tagName":"p"},{"type":"text","content":"CoTec Holdings Corp. (TSX-V:CTH)(OTCQB: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...