CoTec Holdings Corp. Reports Positive Study Results for MagIron's Pig Iron Initiative

CoTec Holdings Corp. has announced a successful pig iron concept and economic study by its partially owned company, MagIron LLC. Based in the U.S., MagIron completed the study focusing on its Minnesota iron ore resources and Indiana pelletizing facilities. The study was conducted by Primetals Technologies, reviewing the potential for large-scale pig iron production integrated with MagIron’s current infrastructure.

The study suggests three feasible methods for producing about two million tonnes of pig iron annually. This supports MagIron’s goal to become a key supplier of high-quality iron units in the U.S. steel market. Moreover, MagIron plans to balance production between pig iron and DR-grade pellets based on market demands.

The economic implications are promising, with MagIron able to leverage its infrastructure valued at approximately $1.3 billion. CoTec emphasizes MagIron's unique positioning due to its extensive iron ore resources and existing facilities.