VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/21/11 -- BioteQ Environmental Technologies Inc. (TSX: BQE), a leader in the treatment of industrial waste water, is pleased to announce an agreement with Minera Mexico, S.A. de C.V., a subsidiary of Grupo Mexico S.A.B. de C.V., to provide water treatment solutions that support Minera Mexico's commitment for the sustainable development of their mineral resources.
The two companies have agreed to develop projects where BioteQ's technologies can be employed in the recovery, recycle and treatment of industrial waste, waste water and by-product management. The framework agreement provides the commercial basis to develop waste treatment projects that are technically and financially attractive using BioteQ's technology while meeting Minera Mexico's sustainable development objectives. Under the agreement, BioteQ will provide process design and commissioning services as well as plant equipment on a process fee basis, in return for a license to use BioteQ's technology for each treatment project. Minera Mexico will provide for construction of the treatment plants.
The companies have initiated the review of the first ten potential treatment projects at three of Minera Mexico's sites in Mexico with the objective to develop waste recovery and recycle projects focused on existing waste management opportunities in smelter dust treatment as well as copper, molybdenum and zinc recovery from historic waste water sources. Updates for individual projects will be provided as details are available and definitive commercial agreements for each site are completed.
Minera Mexico is Mexico's largest mining company with the world's largest copper reserves and a leader in low cost production.
Grupo Mexico operates nineteen sites in Mexico, the US and Peru with fully integrated operations in mining, smelting and refining to produce copper, molybdenum, silver, gold, zinc, and lead. The company is committed to sustainable development of their mineral resources with a strict respect for the environment while striving for the advancement and development of their people.
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, Europe, 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, and trades on the TSX under the symbol BQE. For additional information, please visit our website at www.bioteq.ca.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained herein constitutes 'forward-looking statements' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate' and other similar words, or statements that certain events or conditions 'might' or 'will' occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled 'Risks' in the Company's Annual Report for the Year Ended December 31, 2010. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.