Business
CoTec Investment MagIron Secures State of Minnesota Iron Ore Mining Leases
VANCOUVER, BC / ACCESS Newswire / December 19, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note MagIron...
About this update from Cotec Holdings Corp
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / December 19, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note MagIron LLC's ("MagIron") press release dated December 18, 2025. CoTec owns 16.5% of the equity in MagIron on a fully diluted basis.","length":311,"tagName":"p"},{"type":"text","content":"MagIron announced that it has acquired five new state iron ore mining leases with the Minnesota Department of Natural Resources following the approval by the State of Minnesota Executive Council on December 2, 2025. These five new iron ore mining leases grant MagIron the rights to explore, mine and process hematite iron formation located in Itasca County, Minnesota. The leases are effective January 1, 2026 for a 20-year term and cover an area of 760 acres.","length":460,"tagName":"p"},{"type":"text","content":"These new leases represent the first State-issued hematite mining leases specifically aligned with MagIron's proprietary process for targeting and upgrading oxidized iron formation into high-grade Direct Reduction ("DR") grade iron ore concentrate, a critical input for ore-based metallics needed for the growing U.S. Electric Arc Furnace ("EAF") steel sector.","length":384,"tagName":"p"},{"type":"text","content":"Combined with MagIron's existing stockpiles, tailings, private mineral agreements, other State mineral leases and the mineral rights it owns, these new leases further strengthen the Company's restart plans for Plant 4, a modern past-producing concentrator designed to supply the U.S. steel industry with low-carbon, domestically sourced iron units.","length":356,"tagName":"p"},{"type":"text","content":"Julian Treger, CoTec CEO commented: "These leases are another exciting milestone for MagIron as it further secures supply for MagIron in the execution of its strategy of becoming a multi-decade integrated supplier of DR grade pellets to America's rapidly expanding EAF steel industry."","length":299,"tagName":"p"},{"type":"text","content":"For further information, please visit https://magironusa.com","length":60,"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...