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Assets & Technologies

Overview

MagIron

Investment Year

2022

Sector

Steel

HQ

USA

Status

Active

View Website

The Company

MagIron is at the forefront of advancing the decarbonization of the US steel industry. They have designed an innovative process through disruptive technology that converts waste materials from historical mining operations into high-grade iron ore concentrate, which will ultimately be used as feedstock for the growing fleet of EAFs.

The Partnership

CoTec has a 17% equity interest in MagIron, a brownfields restart of an iron ore processing plant (Plant 4) in the midwestern United States designed to process previously discarded waste materials from historical mining operations; and a beneficiation technology that can be applied to the waste material. There is significant amount of waste material within close proximity to Plant 4 to support a multi-decade business plan to produce DR grade concentrates and iron oxide pellets for green steel production. The value of CoTec’s investment has already appreciated over 10x.

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