CoTec Notes HyProMag USA Production Increase, Equipment Procurement for Texas Hub
CoTec Holdings Corp. disclosed that its joint venture HyProMag USA has increased projected rare earth magnet production capacity and begun procurement of long-lead equipment for its Texas facility, while advancing engineering and commercial discussions.
CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) disclosed June 22 that its joint venture HyProMag USA, LLC has increased projected magnet production capacity at its Ironhead facility in Texas and begun procurement of key long-lead equipment for the rare earth magnet recycling and manufacturing hub.
HyProMag USA, a U.S.-based rare earth magnet recycler and manufacturer, reported progress across detailed engineering, feedstock aggregation, and commercial offtake discussions for the Texas Hub and its broader U.S. commercial platform. The venture has also initiated a search for U.S.-based executive leadership to support its next growth phase. CoTec did not disclose prior or revised production capacity figures, procurement dollar amounts, or construction timelines.
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