VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 27, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec") is pleased to announce the signing of a binding long-term exclusivity and collaboration agreement with Salter Cyclones Limited ("Salter") for the application of its Multi-Gravity Separators (MGS) 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, zinc etc). Its application to bulk commodities such as iron and manganese has been limited.
CoTec believes the technology could represent a step change in the bulk handling of iron and manganese tailings, offering the company the opportunity to produce high grade critical mineral iron and manganese concentrates from ultra fine tailings, material which is currently classified as waste and sent directly to tailings storage facilities.
As part of the collaboration CoTec will have an Exclusivity Period for the application of the MGS to iron ore globally and manganese in the United States, South Africa and Brazil for three (3) years. This Exclusivity Period can be extended by achieving certain milestones. CoTec and Salter will actively collaborate on a asset-by-asset basis to apply the technology to identified iron and manganese assets.
Julian Treger, CoTec CEO commented, "We are very pleased to have entered into an agreement with Salter, a company that has a long history with the MGS technology. Our initial due diligence of the MGS has produced exciting results from our Lac Jeannine Project in Québec, Canada achieving concentrate grades of critical mineral status from ultra fine iron tailings.
We plan to build on these results in the coming months supporting CoTec's strategy to become a leading supplier of high grade, low carbon, iron concentrate through the processing of tailings material. The application of the technology to manganese also offers us the opportunity to become a supplier of high-grade manganese concentrate to the steel industry and producers of high purity manganese sulphate monohydrate (HPMSM) industry".
Ian Daniels, Salter Cyclones Managing Director commented, "Our MGS technology is highly effective at processing ultrafine tailings material to achieve saleable grade concentrates without the need for chemicals. We believe it is a natural fit with other technologies and strengths within CoTec, which should help to develop new markets for the MGS technology. We are excited to work with CoTec to enable additional value to be produced from these waste iron and manganese projects"
The market opportunity for CoTec is significant with millions of tonnes of tailings being produced from ongoing operations as well as historical iron tailings located in the traditional iron ore mining districts of the United States, Canada, Brazil, Australia and South Africa. The technology offers CoTec the opportunity to target assets in these regions with the aim of becoming a mid-tier producer of high-grade concentrate.
With the application of the MGS technology to manganese in South Africa and Brazil, CoTec is targeting assets located in two major regions of manganese ore production, which together represent approximately 40% of the global manganese market1. The exclusive application of the MGS gives CoTec the opportunity to become a supplier of manganese concentrate to the high purity manganese sulphate monohydrate industry in the United States.
The HPMSM sector is dominated by Chinese supply and EV manufacturers will need to establish new sources of supply to mitigate future critical supply risks to meet market demand. CoTec has already identified multiple sites where the technology could be applied to both historic tailings and ongoing operations.
CoTec's strategy is to acquire assets or to enter into joint venture agreements with existing operators where CoTec will either look to treat historic tailings and/or install the MGS machines as part of their current recovery circuit, thereby increasing overall recovery and reducing the amount of material sent to tailings. This technology further supports the strategy of expediting early revenue through low capital, low carbon technologies and brown field permitting processes.
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the Salter agreement and its potential to open up new investment opportunities for the Company as well as management's expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: CoTec Holdings Corp.
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