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Following Completion of Expansion Concept Studies HyProMag USA Advances Expansion to Three States Supporting a Path To Triple U.S. Rare Earth Magnet Capacity by 2029
Completed concept studies for expansion of South Carolina and Nevada hubs, increasing total HyPro...
About this update from Cotec Holdings Corp
[{"type":"text","content":"Following Completion of Expansion Concept Studies HyProMag USA Advances Expansion to Three States Supporting a Path To Triple U.S. Rare Earth Magnet Capacity by 2029Completed concept studies for expansion of South Carolina and Nevada hubs, increasing total HyProMag USA magnet and alloy production from 1,552 metric tons NdFeB to 4,656 metric tons NdFeB per annum, supporting scalable U.S. manufacturing strategy and reinforcing momentum towards a planned U.S. public listingGreater than $2 billion post-tax NPV and 38.7% real IRR for expanded developments, based on forecast market prices[i], support commencement of pre-feasibility studies for the expansions VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 12, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (\"CoTec\" or the \"Company\") is pleased to note today's press release by HyProMag USA, LLC (\"HyProMag USA\"), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.HyProMag USA announced the completion of expansion concept studies (the \"Expansion Concept Study\") and will commence pre-feasibility studies for HyProMag USA's Plants located in South Carolina and Nevada, marking a significant step toward tripling its domestic manufacturing capacity by 2029. The studies support HyProMag USA's strategy to build a scalable platform across the U.S. for recycled neodymium-iron-boron (NdFeB) magnets and reinforce HyProMag USA's intention to pursue a U.S. public listing.Julian Treger, CoTec CEO commented: \"The Expansion Concept Study demonstrates that HyProMag USA's Texas Hub is not a one-off project, but the foundation of a scalable U.S. manufacturing platform. The modular design allows us to replicate capacity efficiently, optimize products for U.S. customers, and accelerate domestic supply chain resilience. The commissioning of HyProMag plants in the United Kingdom and Germany, along with recent progress on the Texas Hub, materially strengthens HyProMag USA's readiness for the next phase of growth and capital markets engagement.\"CoTec holds a 60.3% equity interest (50% direct and 10.3% indirect) in HyProMag USA.The basis of the expansion studies is the recently completed Class 2 AACE[ii] capital cost estimate as part of the Detailed Engineering Design and Value Engineering Phase (the \"Detailed Design\") of HyProMag USA's first facili...