The looming copper supply gap won’t close through mine production alone. Part of the answer lies in processing waste that historical mining left behind.

Data from the University of Queensland’s Sustainable Minerals Institute estimates that approximately 13 billion metric tons of mine tailings are generated every year. Copper, in particular, has seen a bulk of tailings due to constant activity.

The University of Arizona said that the past century of major mining has generated an estimated 17.5 billion metric tons of copper tailings, with upwards of 200 million metric tons now added annually and “more to come” as more copper is mined.

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In historical mining areas like the Democratic Republic of Congo (DRC), decades of activity have also left large volumes of copper tailings, calling for new technology that could change how these waste materials are processed and valued.

Canadian resource and extraction company CoTec Holdings (TSXV:CTH,OTCQX:CTHCF) answers through its joint venture with US-listed and DRC-focused Copper Intelligence (OTCID:CUAI), a partnership that combines the acquisition and advancement of copper tailings projects with modern processing technologies.

CoTec Holdings (TSXV:CTH,OTCQB:CTHCF) (“CoTec” or the “Company”) is pleased to announce that recent metallurgical test work for the Lac Jeannine Mine Tailings Reclamation and Restoration Project (the “Project”) has proven the ability of the Project to produce a high-purity iron concentrate grading in excess of 67% FeT and low in impurities. The 67% FeT concentrate represents an important technical milestone that supports the Project’s positioning as a high-purity iron project aligned with Québec’s critical and strategic minerals framework and Canada’s Critical Minerals List, subject to completion of the ongoing Feasibility Study for the Project.

To be considered in the list of Québec’s critical and strategic minerals as high-purity iron, iron concentrate must contain at least 67% iron and be low in impurities.ⁱ Similarly, Canada’s Critical Minerals List was updated in 2024 to include high-purity iron in its list of critical minerals.ⁱⁱ

Julian Treger, CEO of CoTec, commented: “The 67% FeT concientrate is another major milestone for the Project. It validates the quality of the resource, the effectiveness of our processing strategy and our vision of transforming a historic environmental liability into a strategic asset capable of supporting the global transition to lower-carbon steel production.”

The 2026 Mineral Resource Estimate and Preliminary Economic Assessment (the “Project PEA“)ⁱⁱⁱ demonstrated the project’s economic potential and confirmed its ability to produce a high-purity iron concentrate grading approximately 66.8% Fe^iv. Subsequent engineering and metallurgical optimisation programs through BBA have now validated pathways to producing a 67% FeT concentrate, low in silica and alumina and other deleterious elements.

Recent metallurgical test work conducted at Corem using bulk sample material (collected in 2023^v) confirmed the production of high purity iron concentrate, in excess of 67% FeT. This test work is part of the ongoing Feasibility Study which remains subject to completion and disclosure in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Achieving this grade of concentrate is a critical milestone that significantly enhances the project’s strategic importance. As global steel producers continue to seek higher-grade feedstocks capable of reducing carbon emissions and improving blast furnace and DRI efficiencies, the confirmed concentrate quality supports the Project’s potential to align with the technical requirements supporting the industry’s transition to lower-carbon steel production methods.

With feasibility work continuing, environmental baseline studies underway and engagement progressing with Indigenous communities and government stakeholders, the Project is steadily advancing toward its next development phase. The Project PEA indicates an after-tax net present value of US$91.9 million and an internal rate of return of 29.6% over a projected 15-year mine life, with…

Panther Metals PLC (LSE: PALM), an exploration company focused on mineral projects in Canada, is pleased to announce that it has signed a letter of interest (“LOI”) with Traxys Europe SA, a division of Traxys Group (“Traxys”), a global commodity trading and marketing market leader.

The non-binding LOI concerns Panther’s Winston Tailings Project and is a formal recognition of an ongoing engagement between both parties as Panther progresses work to declare a Mineral Resource estimate, as part of series of ongoing workstreams to quantify, evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn), copper (Cu), indium (In) and cobalt (Co) and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility near Schrieber, Ontario, Canada.

About Traxys

Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its sourcing, logistics, financing and marketing services are conducted by over 550 employees in over 20 offices worldwide, and its annual turnover is in excess of US$8 billion. Traxys designs for its supplier and customer base custom-made supply chain solutions. The group is active in the non-ferrous metals, ferro-alloys, minerals, industrial raw minerals, and energy industries, as well as green transition metals.

Traxys is committed to the highest internationally recognised principles for responsible business conduct, and to ensuring that its operations are equitable, sustainable, and transparent.

Traxys premises its practices on environmental, social, and governance (ESG) standards that enable Traxys to set a leading example for the responsible sourcing and trading of metals and minerals. To learn more about Traxys, go to: www.traxys.com.

Darren Hazelwood, Chief Executive Officer commented:

“We are extremely pleased to be in discussions with Traxys at this important stage in the development of the Winston Lake Tailings Project.

As a globally recognised leader in the financing and marketing of metal concentrates, Traxys brings an opportunity for a powerful combination of commercial expertise and the potential to deliver structured financial support aligned with future offtake.

We believe the LOI with Traxys represents a strong third-party endorsement of the Project’s technical and economic potential.

The involvement of Traxys with their global scale and capability, potentially offers the capacity to significantly strengthen Panther’s pathway, while providing a clear signal of confidence to our shareholders and the wider market as we advance the Winston Tailings Project towards production.“

For further information, please contact:

Panther Metals PLC: Darren Hazelwood, Chief Executive Officer:	+44 (0)1462 429 743 +44 (0)7971 957 685
Brokers:
Optiva Securities Limited Christian Dennis Mick McNamara	+44 (0)20 3137 1902
Hybridan LLP Claire Louise Noyce	+44 (0)20 3764 2341
SI Capital Limited Nick Emerson	+44 (0)1438 416 500

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