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Assets & Technologies

Overview
MagIron LLC

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 entered an agreement to acquire 15.8% equity interest in MagIron LLC for US$2.12 million. The Company is committed to supporting MagIron's development as they restart the iron ore concentrator known as Plant 4 based in Grand Rapids, Minnesota. 

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