CoTec Holdings Corp. Joint Venture, HyProMag USA, to Commence Preparatory Work for Project Execution Phase at Dallas-Fort Worth Texas Hub

Executive Summary

• CoTec Holdings Corp.'s joint venture, HyProMag USA, has taken occupation of its ~125,000-square-foot facility in Denton County, Texas, initiating the project execution phase for its first integrated rare earth magnet recycling and manufacturing hub in the U.S.
• The company will advance detailed engineering, secure long-lead equipment, and expand feedstock and offtake partnerships, utilizing patented HPMS technology to recover and manufacture NdFeB magnets from scrap and end-of-life products.
• Upon full operation, the facility is projected to produce 1,552 metric tons of NdFeB magnets and co-products annually over a 40-year operating life, creating 90-100 skilled jobs and supporting domestic supply chains for AI, EVs, and robotics.

Key Details

• Facility Location & Size: ~125,000-square-foot site at Ironhead Commerce Center, Denton County, Texas (Dallas-Fort Worth innovation corridor).
• Current Status: Lease fully in effect; occupation taken; preparatory work for project execution phase commencing.
• Immediate Activities: Installation of communications infrastructure, security systems, and foundational requirements; parallel advancement of detailed engineering, procurement, feedstock sourcing, and customer engagement.
• Technology: Patented Hydrogen Processing of Magnet Scrap (HPMS) technology for recovering and manufacturing neodymium-iron-boron (NdFeB) rare earth magnets.
• Production Capacity: ~941 metric tons/year of recycled sintered NdFeB magnets + 611 metric tons/year of associated NdFeB co-products (total payable capacity: 1,552 metric tons NdFeB).
• Operational Timeline: 40-year operating life; project advancing toward construction and commissioning.
• Target Markets: Artificial intelligence infrastructure, robotics, electric vehicles, and advanced manufacturing.
• Economic & Strategic Impact: Expected to create 90 to 100 skilled jobs; strengthens domestic rare earth magnet and critical materials supply chains.
• Hub-and-Spoke Strategy: Texas facility serves as central hub; supports established feedstock pre-processing operations in South Carolina and Nevada at Intelligent Lifecycle Solutions (ILS) sites.
• Corporate Structure: HyProMag USA is a 50:50 joint venture between CoTec Holdings Corp. and HyProMag Limited. HyProMag Limited is 100% owned by Maginito Limited, which is owned 79.4% by Mkango Resources Ltd. and 20.6% by CoTec.

Notable Quotes

• Julian Treger, CEO of CoTec: "Taking occupation of the Texas Hub is transformational for HyProMag USA. With the facility now under our control, our focus is on advancing detailed engineering, securing long-lead equipment, expanding feedstock and offtake partnerships of what we believe will become a cornerstone of the domestic rare earth magnet supply chain. The facility is strategically located in the heart of the Dallas-Fort Worth innovation corridor with excellent access to transportation, logistics and critical infrastructure. We are excited to begin establishing our presence at the site and advancing the project toward construction and commissioning."