CoTec

What CoTec does

CoTec Holdings Corp. is a publicly traded Vancouver-based investment issuer (TSX-V: CTH, OTCQX: CTHCF) that deploys a portfolio-plus-application model in critical minerals. The company invests in and acquires stakes in six transformative resource extraction and processing technologies, then applies these technologies to three mineral assets spanning rare earths, iron ore, and copper. Its flagship platform is HyProMag USA, a 50:50 joint venture (60.3% effective CoTec equity) with HyProMag Limited that uses patented Hydrogen Processing of Magnet Scrap (HPMS) technology, originally developed at the University of Birmingham with approximately US$100 million of historical R&D, to recover and remanufacture NdFeB permanent magnets at a 125,000-square-foot hub in Dallas-Fort Worth, Texas, supported by Inserma pre-processing spokes in South Carolina and Nevada. Adjacent assets include the 100%-owned Lac Jeannine iron tailings reclamation project in Québec, a 16.5% equity stake in MagIron (which is acquiring the Reynolds Pellet Plant in Indiana to produce DR-grade pellets and merchant pig iron for the EAF steel industry), and an emerging copper vertical via the CoTec Copper subsidiary and a DRC joint venture with Copper Intelligence.

The technology portfolio includes HPMS (with independently validated 88% energy and 85% carbon emission reductions versus hydrometallurgical recycling and a 2.35 kg CO2 eq./kg NdFeB carbon footprint), Inserma automated HDD pre-processing (less than 3 seconds per drive), Salter Cyclone Multi-Gravity Separation for ultra-fine iron and manganese recovery, Binding Solutions cold agglomeration pelletization, Ceibo copper leaching (supported by BHP Ventures and Glencore's Lomas Bayas), and Wavecracker microwave copper leaching technology developed with McGill University. CoTec is a pre-revenue investment issuer: it does not currently generate operating revenue and reported a US$19.2 million net loss in 2025 and a US$2.6 million net loss in Q1 2026. Its economic model is to invest in and apply technologies to undervalued mineral assets, with the stated strategy of spinning off these businesses as standalone operations. Future revenue, when realized, will come from sales of recycled NdFeB magnets (HyProMag USA), DR-grade iron ore pellets and merchant pig iron (MagIron), iron concentrates (Lac Jeannine), and potential royalty or licensing income from deployed technologies. End-customers are projected to include defense contractors (DFARS-compliant magnets), hyperscale data center and AI infrastructure operators, EV and clean energy manufacturers, and EAF steel producers.

Name

CoTec

Legal name

CoTec Holdings Corp.

Website

https://cotec.ca

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

CoTec Holdings Corp. is a Vancouver-based, publicly traded investment issuer that deploys a portfolio of six proprietary resource extraction technologies to three critical mineral assets spanning rare earths, iron ore, and copper, with a flagship HyProMag USA joint venture (60.3% effective equity) targeting U.S. NdFeB magnet recycling. The company is pre-revenue and pursues a spin-off strategy.

Ownership category

akta.pro rank

Product category

Critical Minerals & Resource Extraction

NAICS

Other Nonmetallic Mineral Mining and Quarrying (21239), Nonmetallic Mineral Mining and Quarrying (2123)

SIC

Miscellaneous Metal Ores (1090), Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH)

akta.pro secondary industry

Physical Separation (Gravity, Magnetic & Electrostatic) (IMAKALAC)

Keywords

• Rare earth magnet recycling
• Iron ore processing
• Mineral extraction technologies
• Critical minerals supply
• Resource extraction investment

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain, Others

Revenue model

1. Investment & Asset Appreciation Revenue Model: CoTec is a publicly traded investment issuer that does not currently generate operating revenue from product sales. The company's economic model is to invest in and acquire stakes in transformative resource extraction technologies and apply them to undervalued mineral assets, with the strategy of spinning off these businesses as standalone operations. Value is unlocked through asset appreciation, strategic partnerships, and eventual spin-offs rather than recurring revenue streams. Revenue, when realized, will come from future sale of mineral concentrates (iron ore pellets from MagIron, iron concentrates from Lac Jeannine) and recycled rare earth magnets from HyProMag USA, as well as potential royalty/licensing income from deployed technologies.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

CoTec Holdings Corp. is a publicly traded resource extraction and technology investment issuer that deploys a portfolio of proprietary mineral extraction and processing technologies (HPMS rare earth magnet recycling, Inserma HDD pre-processing, Salter Cyclone multi-gravity separation, Binding Solutions cold agglomeration, Ceibo copper leaching, and Wavecracker microwave technology) to majority-owned and co-owned mineral assets. The company holds six transformative technologies and three mineral assets covering rare earths, iron ore, and copper, with the flagship operating platform being HyProMag USA (rare earth magnet recycling) and additional assets including MagIron (DR-grade pellets/pig iron) and Lac Jeannine (iron tailings reclamation).

Product overview

CoTec Holdings Corp. operates as a next-generation resource company built on a portfolio-plus-application model rather than a single unified product. The company invests in six transformative extraction/processing technologies and applies them to three mineral assets, providing exposure to rare earths, iron ore, and copper. The flagship operating platform is HyProMag USA, a 50:50 joint venture with HyProMag Limited that is majority-owned by CoTec (60.3% equity interest via 50% direct plus 10.3% indirect through Maginito) and uses the patented HPMS recycling technology to recover and remanufacture neodymium-iron-boron (NdFeB) magnets in the United States. Adjacent strategic assets include the 100%-owned Lac Jeannine iron tailings project (operated through CoTec Québec Corporation Inc.), MagIron (16.5% equity, iron ore pelletizing/pig iron), and emerging copper initiatives including CoTec Copper and the DRC joint venture with Copper Intelligence. Supporting technology investments include Binding Solutions Limited (cold agglomeration pelletization), Ceibo (copper leaching technology), Salter Cyclone multi-gravity separation technology, and the Inserma HDD pre-processing system integrated into the HyProMag feedstock pipeline. Together these form a diversified critical-minerals and technology platform targeting AI infrastructure, defense, EV, and advanced manufacturing supply chains.

Differentiator

Problem solved

Functional benefit

Brands

• HyProMag USA: Rare earth permanent magnet recycling and manufacturing joint venture operating the Dallas-Fort Worth Texas Hub.
• MagIron
• Lac Jeannine
• CoTec Québec
• CoTec Copper

Products and services

• HyProMag USA Hub-and-spoke rare earth magnet recycling and manufacturing platform using patented Hydrogen Processing of Magnet Scrap (HPMS) technology to recover neodymium-iron-boron (NdFeB) permanent magnets from end-of-life scrap streams and remanufacture them into recycled sintered NdFeB magnets. The Dallas-Fort Worth Texas Hub, supported by Inserma pre-processing spokes in South Carolina and Nevada, targets initial production of 941 metric tons per annum of sintered NdFeB magnets plus 611 metric tons of NdFeB co-products, with planned expansion to 4,656 metric tons per annum across three hubs by 2029. CoTec owns 60.3% equity interest.
• MagIron Iron ore resource, concentrator and pelletizing platform targeting the production of direct reduction (DR) grade pellets and the establishment of the United States' first integrated merchant pig iron operation. Integrates the Reynolds Pellet Plant near Reynolds, Indiana (acquired from Altos Hornos De Mexico) with MagIron's existing Minnesota concentrator. Independent Definitive Feasibility Study by Behre Dolbear reported a base case after-tax NPV (4.9%) of approximately US$1.598 billion and an IRR of 27.6% for restart of Plant 4 in Minnesota and Reynolds Pellet Plant. CoTec holds 16.5% equity.
• Lac Jeannine Mine Tailings Reclamation and Restoration Project 100%-owned iron ore tailings reclamation and restoration project located in the Côte-Nord region of Québec, Canada, covering 1,649.34 hectares across 31 mineral claims. Involves reprocessing approximately 260 million long tons of historical tailings from the former Lac Jeannine open pit mine (operated 1961–1976) for residual iron using gravity concentration and Salter Cyclone multi-gravity separation technology. The 2026 PEA returned an after-tax NPV (7%) of US$91.9M, IRR of 29.6%, and 15-year life of mine, with potential to produce a 67% FeT concentrate qualifying as a critical and strategic mineral.
• DRC Copper Tailings Joint Venture (with Copper Intelligence Inc.) Early-stage exploration joint venture targeting the processing of historical copper tailings in the Democratic Republic of Congo's historical copper districts using CoTec technologies. Parties target signing definitive agreements by Q3 2026 and intend to pursue funding from the U.S. International Development Finance Corporation once sufficient scale is achieved.
• Binding Solutions Limited (BSL) UK-based company developing a proprietary cold agglomeration technology for the production of high-quality clean pellets from primary materials, waste dumps, and stockpiles, allowing steel and mining companies to monetize waste products efficiently and with environmental benefits. CoTec holds an equity investment in BSL with expected exclusive rights to apply the technology to reclamation of non-ferrous metal assets in Canada and ferrous/non-ferrous metals in Germany, Austria and the Netherlands.
• Ceibo Copper Leaching Technology Early-stage revolutionary copper leaching technology investment targeting primary sulphide copper extraction, supported through partnerships with BHP Ventures and Glencore's Lomas Bayas mine. CoTec's CoTec Copper subsidiary (formed January 2026) accelerates investment activities in copper tailings and copper sulfide deposits.
• HPMS (Hydrogen Processing of Magnet Scrap) Technology Patented Hydrogen Processing of Magnet Scrap (HPMS) technology developed at the University of Birmingham Magnetic Materials Group (MMG), underpinned by approximately US$100 million of historical R&D. The chemistry-free process uses hydrogen to extract NdFeB alloy powder from end-of-life scrap streams at near atmospheric pressure, delivering an 88% reduction in energy consumption and 85% reduction in carbon emissions compared to conventional hydrometallurgical rare earth recycling, producing magnet-grade alloy powder directly without chemical processing stages.
• Salter Cyclone Multi-Gravity Separation Technology Multi-gravity separator technology licensed through an exclusivity and collaboration agreement with Salter Cyclones for the recovery of ultra-fine iron and manganese. A commercial-scale Salter Cyclone Multi-Gravity-Separator unit is located at Corem Québec, Canada for use at the Lac Jeannine iron tailings project to access ultra-fine material contained in the tailings.
• Inserma HDD Pre-Processing System Automated robot-assisted HDD (hard disk drive) pre-processing technology developed by Inserma Anoia S.L. (Spain) that separates Voice Coil Motors containing rare earth magnets in approximately three seconds per drive, providing highly concentrated NdFeB feedstock for downstream HPMS recycling. Three Inserma pre-processing units have been purchased for deployment at ILS sites in Texas, Nevada, and South Carolina.
• HyProMag GmbH Pforzheim Germany Plant Second commercial-scale rare earth sintered magnet manufacturing facility operated by HyProMag GmbH in Pforzheim, Germany using HPMS technology, with initial capacity of approximately 100 metric tons per annum of NdFeB product, expandable to 350 tpa, and further scaling to 750 tpa under evaluation.

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

15 partnerships are on record, tiered strategic, core, flagship and minor.

• Copper Intelligence Inc.strategicStrategic or Co-development Partner · 6 May 2026Non-binding term sheet signed with U.S.-based Copper Intelligence Inc. and third-party investment vehicles associated with CoTec's CEO and Chairman to form early-stage exploration joint venture targeting processing of historical copper tailings in the Democratic Republic of Congo's historical copper districts. Parties target signing definitive agreements by Q3 2026 and intend to pursue U.S. International Development Finance Corporation funding once sufficient scale is achieved. CoTec technologies intended to enhance economic potential of tailings sites.
• CoremcoreImplementation/ SI/ Consulting Partner · 27 January 2026Quebec-based technology center appointed to complete the Feasibility Study Metallurgical Testing Program on the Lac Jeannine Iron Tailings Project. Initial metallurgical tests at Corem have produced direct reduction iron concentrates that qualify the project for critical mineral status. Also hosts CoTec's purchased commercial-scale Salter Cyclone Multi-Gravity-Separator unit.
• MagIron LLCflagshipStrategic or Co-development Partner · 22 December 2025CoTec holds 16.5% equity stake in MagIron (16.4% interest per Q1 2026 MD&A). MagIron signed binding Asset Purchase Agreement to acquire Reynolds Pellet Plant near Reynolds, Indiana from Altos Hornos De Mexico (ASHMSA) for closure before December 31, 2025. The plant previously operated at 2.2 million tonnes per annum with $440M prior investment, expandable to 3.0M tonnes. Strategy: DR grade pellets and merchant pig iron for EAF steel industry. Definitive Feasibility Study by Behre Dolbear returned base case after-tax NPV of approximately US$1.598B and IRR of 27.6%.
• Groupe NipiminorImplementation/ SI/ Consulting Partner · 11 November 2025Pessamit-based Indigenous company from the Innu First Nation community of Pessamit engaged by CoTec to support BBA on the required environmental studies for the Lac Jeannine Project. Local First Nations inclusion in other areas of work planned as the Project progresses.
• Alliance Advisors IRminorGTM or Marketing Partner · 3 November 2025Investor relations firm engaged by CoTec for investor relations services, supporting visibility expansion among U.S. investors following OTCQX upgrade in May 2026.
• Inserma Anoia S.L.coreTechnology or Integration · 30 September 2025Maginito and Inserma have entered into a binding and exclusive agreement to collaborate on optimization, commercialization and roll-out of pre-processing technologies for HyProMag in the UK, Germany, the United States and other regions. Inserma's automated units rapidly remove VCM containing rare earth magnets (<3 seconds per HDD). Three Inserma pre-processing units purchased for Texas, Nevada, and South Carolina rare earth magnet recycling hubs.
• Intelligent Lifecycle Solutions (ILS)coreStrategic or Co-development Partner · 24 July 2025Global electronics recycler partnered with HyProMag USA for feedstock supply and pre-processing site share in South Carolina and Nevada. ILS secures and stores NdFeB from HDDs, EV motor rotors, wind turbine magnets, speaker assemblies, and MRI machines. Two automated Inserma pre-processing units at ILS Williston, South Carolina facility process over 60,000 drives per week. Joint Technical Procurement team created; expanded feedstock supply agreement announced November 2025.
• PegasusTSI Inc.coreImplementation/ SI/ Consulting Partner · 21 April 2025U.S.-based engineering firm engaged as lead engineer (alongside BBA) for EPCM services for HyProMag USA's DFW Hub. Work undertaken from PegasusTSI Tampa office, supported by owner's team comprised of HyProMag Limited, CoTec, and Mkango. 24-month project execution period. Also responsible for environmental and permitting studies supported by Weston Solutions, Inc.
• Salter CyclonescoreTechnology or Integration · 27 February 2025Exclusivity and Collaboration Agreement for the use of Salter Cyclones' Multi-Gravity technology for the recovery of ultra-fine iron and manganese. CoTec purchased a commercial-scale Salter Cyclone Multi-Gravity-Separator unit to be located at Corem Québec, Canada for use in the Lac Jeannine project to allow access to ultra-fine material contained in tailings.
• McGill UniversityminorStrategic or Co-development Partner · 24 February 2025Joint project 'Wavecracker' targeting application of microwave technology to accelerate sulphide copper leaching. CoTec Holdings Corp. and McGill University commenced the research project to accelerate copper leaching processes.
• Weston Solutions, Inc.minorImplementation/ SI/ Consulting Partner · 25 November 2024U.S.-based environmental and permitting firm supporting environment and permitting studies for the HyProMag USA DFW Hub project as part of the EPCM phase.
• Glencore (via Ceibo / Lomas Bayas)minorStrategic or Co-development Partner · 20 November 2024CoTec investment Ceibo partnered with Glencore's Lomas Bayas to support revolutionary copper leaching technology. CoTec holds an early-stage investment in Ceibo. BHP Ventures also invested in Ceibo (August 2023). Partnership targets application of Ceibo's copper leaching technology to Glencore operations.
• BBA USA Inc.coreImplementation/ SI/ Consulting Partner · 21 April 2024Canada-based engineering firm engaged as lead engineer (alongside PegasusTSI) for Engineering, Procurement and Construction Management (EPCM) services for HyProMag USA's rare earth magnet recycling and manufacturing project at DFW Hub. Also engaged to lead the Feasibility Study for the Lac Jeannine Iron Tailings Recovery Project in Québec, Canada. Project execution over 24-month period.
• HyProMag Limited (via Maginito / Mkango Resources)flagshipStrategic or Co-development Partner · 14 September 202350:50 joint venture through HyProMag USA LLC for rare earth magnet recycling and manufacturing in the United States. CoTec holds 60.3% equity interest in HyProMag USA through a 50% direct and 10.3% indirect stake (via 20.6% ownership of Maginito, which owns 100% of HyProMag Limited). HyProMag USA's flagship Texas Hub facility at Ironhead Commerce Center in Denton County is approximately 125,000 sq ft. Targeting H2 2027 commissioning, production of 1,526 metric tons NdFeB per annum, and 90-100 skilled jobs.
• University of Birmingham (Magnetic Materials Group)flagshipStrategic or Co-development PartnerCoTec collaborates with University of Birmingham to identify and commercialize technologies related to the critical minerals industry. The MMG developed HPMS technology (underlying HyProMag) underpinned by ~US$100M of historical R&D. Pilot testing of products and operations continues at University of Birmingham Magnetic Materials Group pilot plant in conjunction with HyProMag commercial developments in UK and Germany.

Scale indicators16 records

Recent moves10 records

Expansion highlights8 records

Direct peers

• Mkango Resources: Mkango is CoTec's JV partner in HyProMag USA (via wholly-owned HyProMag Limited and Maginito) and the originator of HPMS rare earth magnet recycling. Mkango is developing the same rare earth recycling and downstream permanent magnet business across UK, Germany and the US, making it the closest functional peer.
• USA Rare Earth: USA Rare Earth is developing a US-based sintered NdFeB magnet manufacturing capability alongside its Round Top heavy rare earth project in Texas. Both companies target domestic, DFARS-compliant NdFeB supply for defense and critical infrastructure; USA Rare Earth focuses on primary mining whereas CoTec's HyProMag USA is recycling-led.
• Energy Fuels: Energy Fuels is a US critical minerals platform with rare earth processing at its White Mesa mill in Utah, alongside uranium and vanadium operations. Both companies are publicly listed, pre-revenue/early-revenue critical minerals platforms targeting US strategic supply chains and government-supported offtake.
• Cyclic Materials: Cyclic Materials operates the only commercial-scale rare earth recycling facility in North America (Hydrometallurgical 'R2' process) and is scaling to recover NdFeB magnets from end-of-life motors and electronics. Both companies compete directly in the US rare earth magnet recycling market serving similar EV and defense end-customers.
• HyProMag Limited: HyProMag Limited is the UK operating company commercializing HPMS technology and CoTec's JV partner (via Maginito/Mkango). The UK Tyseley plant and German Pforzheim plant are direct operational analogues to CoTec's HyProMag USA hub, and the two entities share the same underlying process technology.
• Noveon Magnetics: Noveon Magnetics (formerly Urban Mining Co.) is a US-based producer of sintered NdFeB magnets made from recycled end-of-life magnets and swarf. Both companies target US defense and EV customers with recycled-content NdFeB magnets and pursue similar regulatory and offtake pathways.

Broad incumbents

• MP Materials: MP Materials is the largest US rare earth producer (Mountain Pass mine) and is expanding downstream into NdFeB magnet manufacturing. Both companies target reshoring of the US NdFeB supply chain for defense, EV and clean energy end-markets; MP Materials is far larger and operates an integrated mine-to-magnet platform, while CoTec is recycling-led.
• Lynas Rare Earths: Lynas is the largest non-China producer of separated rare earth oxides and is building US downstream rare earth processing capability through a US Department of Defense-supported facility in Texas. Both companies serve the same end-customers seeking non-China rare earth supply, but Lynas is a primary miner/refiner at commercial scale while CoTec is recycling-led and pre-revenue.

Regional players

• Iluka Resources: Iluka Resources is an Australian mineral sands and rare earths producer constructing the Eneabba rare earth refinery in Western Australia. Both companies target non-China rare earth separation/refining capacity for the global supply chain but Iluka is a primary miner/refiner while CoTec focuses on recycling and downstream processing.

Others

• Glencore: Glencore is a strategic partner through its Lomas Bayas copper mine supporting Ceibo's copper leaching technology, and CoTec's Chairman Lucio Genovese is a former Glencore executive. Glencore is also a broad incumbent in the global mining and critical minerals space that overlaps with CoTec's copper, iron ore and tailings opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@cotec
• Xx.com/CoTecCorp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds8 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CoTec