BioteQ Environmental Technologies Inc. revealed that they had signed an another agreement with their joint venture partner Jiangxi Copper Company. BioteQ Environmental Technologies is a Canada-based firm that provides industrial wastewater treatment solutions. Jiangxi Copper Company is the biggest copper mining company in China.
The latest venture between the two companies would be to build a water treatment facility at the Yinshan Mine site. The Yinshan Mine, a copper-rich mine, is located in southeast China. The mine is around 30 km from where the partnership has metals recovery water treatment facilities already in place, the Dexing site.
The proposed facility will make use of BioteQ's patented ChemSulphide process technology to recover any dissolved copper from mine drainage. The plant is expected to recover around 930,000 pounds of copper concentrate per annum. These recovered copper concentrate would then be sold to Jiangxi Copper Company at market prices.
According to chief executive officer of BioteQ Environmental Technologies Jonathan Wilkinson, "We are very pleased to be further strengthening our relationship with Jiangxi Copper Company in addressing water treatment needs at JCC sites. The project will enable the company to further enhance its operating and recurring revenue base while concurrently pursuing technology solution orders from customers who wish to maintain ownership of plant assets. BioteQ anticipates that having all three new China plants on stream by Q3 2014 will enable the company to achieve a sustainable EBITDA positive financial position as early as FY 2014."
Join the Conversation