VANCOUVER, BC / ACCESS Newswire / October 15, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) (“CoTec”) and Battery Mineral Resources Corp. (TSXV:BMR)(OTCQB:BTRMF) (“BMR”) (together, the “Parties”) are pleased to announce that they have entered into a non-binding framework agreement establishing a pathway toward a Strategic Economic Joint Venture to evaluate and develop opportunities to increase copper production and unlock value from lower-grade sulphide mineralization and tailings at BMR’s Punitaqui mining district in Chile through the deployment of technologies identified, sourced or made available through CoTec. The agreement establishes a structured pathway toward the potential formation of a Strategic Economic Joint Venture, subject to the completion of technical and economic evaluations and the negotiation of definitive agreements.
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The proposed partnership combines BMR’s producing copper operation, established infrastructure, permits, workforce and resource base with CoTec’s capabilities in identifying and sourcing technologies, resource optimization, project development and financing. The parties will evaluate opportunities to increase copper recovery, identify additional production opportunities and advance new development opportunities across the Punitaqui mining district.
The parties intend to evaluate the potential application of CoTec technologies to Punitaqui’s existing resource base, lower-grade sulphide mineralization and tailings with the objective of identifying additional growth potential and development opportunities.
A key feature of the proposed Strategic Economic Joint Venture is a value-sharing framework under which BMR would retain 100% ownership and economic benefit of its existing Punitaqui operation, including current resources, production and mine plans, as reflected in a baseline to be agreed by the parties. CoTec and BMR would each have a 50% economic participation in the incremental production and value generated through the application of CoTec technologies and any qualifying new development opportunities identified through CoTec’s technology-related activities.
The initial assessment program will include metallurgical testing and preliminary technical and economic evaluation of opportunities to recover additional copper from historical and active tailings, evaluate the potential of lower-grade mineralization, improve recoveries, identify additional growth potential and create new copper production streams.
The framework agreement is non-binding, except for certain provisions relating to exclusivity, confidentiality and other customary matters, and is intended to govern the initial assessment and testing program. Following completion of the technical, metallurgical and economic evaluations, the parties intend to negotiate definitive agreements governing the proposed Strategic Economic Joint Venture and the development of qualifying opportunities identified within the Punitaqui district.
CoTec is expected to bear the third-party costs of the initial assessment and testing activities approved by CoTec.
Julian Treger, Chief Executive Officer of CoTec, commented: “Punitaqui is an attractive copper district with an established operating platform and significant growth potential beyond the current mine plan. We believe there are opportunities to increase copper production and unlock additional value by applying CoTec’s resource optimization and processing solutions to existing resources, lower-grade sulphides and tailings.”
“The partnership reflects CoTec’s strategy of creating value from existing assets through technology, project development expertise and disciplined capital allocation. By leveraging Punitaqui’s existing infrastructure and operating base, we believe there is potential to unlock meaningful incremental value with a lower risk profile than greenfield development. The framework is straightforward and aligned: BMR retains the value of its existing business while both parties share equally in the value created through future development opportunities.”
Lazaros Nikeas, Chief Executive Officer of Battery Mineral Resources, commented: “Punitaqui is an established copper-producing district with valuable infrastructure, a skilled operating team and a significant inventory of resource opportunities. While our current operations provide a solid foundation, we believe there is substantial potential to create additional value through the evaluation of lower-grade sulphide mineralization, tailings and other opportunities across the district.”
“CoTec brings a differentiated combination of technology expertise, project development capability and access to capital. We look forward to working together to evaluate opportunities which could increase copper production, support future growth and enhance the long-term value of Punitaqui for all stakeholders.”
About CoTec
CoTec is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains.
CoTec’s mission is clear: accelerate the energy transition while strengthening strategic mineral supply chains for the countries we operate in. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable technologies that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.
From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing and reclamation in Québec, to next-generation copper and iron technologies backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.
About Battery Mineral Resources Corp.
Battery Mineral Resources operates the Punitaqui Mining Complex, a historic copper, gold, and silver-producing mine in the Coquimbo region of Chile. The Company’s portfolio also includes 100%-owned ESI Energy Services Inc. and North American mineral exploration assets. The Company is focused on providing shareholders with accretive exposure to copper and the global trend of electrification while targeting growth through cash flow, exploration and acquisitions in favorable mining jurisdictions. Further information about BMR and its projects can be found on www.bmrcorp.com.
For further information, please contact:
CoTec Holdings Corp.
Braam Jonker – (604) 992-5600
Battery Mineral Resources Corp.
Lazaros Nikeas – (672) 887-5010
Qualified Person
Peter Doyle, B.Sc. (Hons.), FAusIMM, Vice President Exploration of Battery Mineral Resources Corp., is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical information contained in this news release. Scientific and technical information relating to Punitaqui’s previously disclosed mineral resources and mineralization is supported by BMR’s technical report entitled “Technical Report on Punitaqui Copper Complex Coquimbo, Chile,” dated September 30, 2022, with an effective date of August 16, 2022, available under BMR’s profile on SEDAR+ at www.sedarplus.ca.
Forward-Looking Information Cautionary Statement
Statements in this press release regarding CoTec Holdings Corp. (“CoTec”) and Battery Mineral Resources Corp. (“BMR”) which are not historical facts are “forward-looking statements” or “forward-looking information”, which involve risks and uncertainties, including statements relating to the proposed Strategic Economic Joint Venture; the negotiation and execution of definitive agreements; the initial assessment and testing program; the evaluation, deployment and performance of the CoTec technologies; opportunities to increase copper recovery and production, identify additional growth and development opportunities and identify or develop new projects; the proposed value-sharing framework; the completion and results of any feasibility study; potential project development and financing; and the anticipated benefits of the proposed transaction to CoTec and BMR.
Forward-looking statements are based on assumptions considered reasonable by management as of the date of this release, including assumptions regarding the Parties’ continued cooperation, the availability and effectiveness of the CoTec technologies, the ability to complete the proposed technical and economic evaluations, the availability of necessary financing, applicable commodity prices and operating costs, and the ability to obtain required regulatory and permitting approvals.
Since forward-looking statements address future events and conditions that, by their very nature, involve inherent risks and uncertainties, actual results could differ materially from those currently anticipated due to known and unknown risks and uncertainties affecting CoTec and BMR, including, but not limited to, technical and metallurgical risks; the possibility that definitive agreements may not be entered into; the risk that proposed technologies may not achieve anticipated results; resource and reserve risks; environmental risks and costs; permitting requirements and delays; the availability of financing; changes in commodity prices and operating costs; labour costs and shortages; equipment availability; project delays and cost overruns; extreme weather conditions; and other risks associated with mineral exploration, development and production.
For further details regarding risks and uncertainties facing CoTec and BMR, please refer to the continuous disclosure documents filed by each company under its respective SEDAR+ profile at www.sedarplus.ca. Neither CoTec nor BMR assumes any responsibility to update forward-looking statements contained in this press release except as required by applicable securities laws. Readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: CoTec Holdings Corp.
View the original press release on ACCESS Newswire
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