CoTec inks deal with Salter Cyclones to use its technology in recovering iron ore and manganese

CoTec Holdings (TSXV:CTHO; TCQB:CTHCF) announced the signing of a binding long-term exclusivity and collaboration agreement with Salter Cyclones 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. CoTec is a resource extraction company.

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 years.

Richard Mozley - a prominent mining engineer - originally developed Salter's MGS technology. The technology has been used by mining operations for many years applied to the recovery of valuable metal minerals (tin, chromium, copper, zinc etc.). The technology, however, been limited in its application to bulk commodities such as iron and manganese.

CoTec believes the technology could represent a step change in the bulk handling of iron and manganese tailings. The company believes it could provide the opportunity to produce high grade critical mineral iron and manganese concentrates from ultra fine tailings. Mining companies and government currently classify this material as waste and sent directly to tailings storage facilities.

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.”

Ian Daniels, managing director of Salter Cyclones, 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.

More information is posted on www.CoTec.ca.