BioteQ Signs Agreement With European Engineering Firm for SART Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/07/11 -- BioteQ Environmental Technologies Inc. (TSX: BQE), a leader in the treatment of industrial waste water, has signed an agreement with a European engineering firm to advance a cyanide regeneration and recovery project that incorporates a SART process plant to be designed and provided by BioteQ at a gold mine site in Central Asia. Under the terms of the agreement, the engineering firm has contracted BioteQ exclusively to provide project evaluation, process design, supply of process technology, plant equipment and commissioning services for the cyanide regeneration and recovery components of the new plant, including a SART circuit to be customized by BioteQ to address the metallurgical processing needs of the site.
Brad Marchant, BioteQ's Chief Executive Officer stated, 'We are pleased to be working with our engineering partner to apply our cyanide regeneration and SART expertise for this new project. Among the implementation options that we are considering, we are evaluating the suitability of our Mexico SART plant, which has a capacity of 340 cubic meters per hour, for retrofit and relocation to this site and will provide further details as the project engineering advances.'
The project will advance in three stages. The first stage, preliminary investigation, is complete. The second stage, site due diligence, testing and engineering, is expected to commence in August, subject to final customer approvals. BioteQ will earn fees for test work and engineering services provided during the second stage. The third stage involves the supply and commissioning of the cyanide regeneration and recovery plant including a SART circuit to be provided by BioteQ, with an estimated throughput of up to 250 cubic meters per hour of leach solution. BioteQ is expected to earn fees for the supply of process equipment and commissioning in the third stage. Final pricing for the BioteQ scope of work is to be determined during the second stage; a project of this size would typically range in price between 12 to 20 million Euros. The implementation timeline of the third stage will be determined by the customer; based on the current schedule, supply of plant equipment is expected to commence in 2011. The project is subject to key decision milestones at each stage.
SART is an enabling technology for copper-complexed gold deposits that recovers copper and regenerates cyanide for recycle to the gold operation, resulting in improved gold yields and lower operating costs. The process was developed by SGS Lakefield and Teck Corporation. BioteQ has permission to use the process, applying the company's specialized know-how in the design and operation of sulphide precipitation processes which are essential to successful SART operations. This project will be BioteQ's fourth commercial application of SART, establishing the company as a world leader in SART process design and implementation.
BioteQ and the European engineering firm are pleased to be working together to provide a process solution for the customer that converts waste into valuable by-products, improves gold yields, reduces reagent purchases and disposal costs, and improves the environmental footprint of the site.
BioteQ Corporate Profile
BioteQ creates custom water treatment solutions to recover dissolved metals and remove sulphate from water impacted by mining, energy and industrial activities. The company's clean technologies convert wastewater into a useful resource while delivering lower life cycle costs for water treatment. BioteQ has designed and built 14 plants at sites in Canada, the US, Mexico, Australia and China, with additional projects in development.
BioteQ's sustainable water treatment solutions have been recognized with national and international awards for innovation and sustainability. BioteQ is headquartered in Vancouver, Canada, with offices in Chile and China, and trades on the TSX under the symbol BQE. For additional information, please visit our website at www.bioteq.ca.
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