Cotec purchases multigravity separator from Salter

Mr. Julian Treger reports COTEC PURCHASES COMMERCIAL SCALE SALTER CYCLONE MULTI-GRAVITY-SEPARATOR UNIT TO BE LOCATED AT COREM QUEBEC, CANADA Cotec Holdings Corp. has purchased its first commercial-scale multigravity separator from Salter Cyclone Ltd. The MGS provides a highly effective recovery and upgrading of mineral values contained in fine and ultrafine particles. It is unique in enabling the production of high-grade concentrates at high recovery from low-grade tailings and middling streams, which differentiates it from other gravity recovery technology which focuses on either recovery or grade. The MGS has historically proved itself on minerals such as tin, tungsten and chrome; however, Cotec is aiming to use the technology to unlock value from tailings streams in other sectors such as iron and copper. The MGS will be based at Corem's testing laboratory in Quebec, Canada. Having the commercial-scale unit based at Corem will allow Cotec to assess tailings retreatment opportunities in a compressed time frame with test results coming from an internationally respected mineral processing organization. The MGS machine will support the recently announced Lac Jeannine feasibility study with BBA, for the recovery of additional iron ore from its iron tailings reclamation project in Quebec, Canada. Julian Treger, chief executive officer of Cotec, commented: "The purchase of the MGS is another exciting step forward in achieving Cotec's corporate strategy of applying technology to recover minerals from material classified as waste. Testwork to date on Lac Jeannine's 75-microm iron tailings material has proven that high-grade concentrates at economically viable recoveries are achievable, and the feasibility study will build on this work and expand into other minerals such as copper, lead and zinc. A commercial-scale MGS based at Corem provides Cotec with the ability to move rapidly from lab-scale testing to commercial-scale data gathering for engineering design and economic valuation. This ability to assess opportunities in a compressed time frame allows for efficient capital deployment and the ability to bring operations on-line far quicker than current industry standards. We continue to work closely with Salter as this exciting technology develops." MGS technology In February, 2025, Cotec announced the signing of a binding long-term exclusivity and collaboration agreement with Salter for the application of its multigravity separators technology for the recovery of iron ore and manganese from both primary mining and tailings material. Salter's MGS technology was originally developed in the 1980s by Richard Mozley and has been in operation for many years applied to the recovery of valuable metal minerals (tin, chromium, copper and zinc). Its application to bulk commodities such as iron and manganese has been limited. As part of the collaboration, Cotec and Salter will actively collaborate on an asset-by-asset basis to apply the technology to identified assets. About Cotec Holdings Corp. Cotec is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains. Cotec's mission is clear: accelerate the energy transition while strengthening strategic critical mineral supply chains for the countries it operates in. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals. From its HyProMag USA magnet recycling joint venture in Texas to iron tailings reprocessing in Quebec to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability and strategic materials. We seek Safe Harbor.