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MEI Online: Environmental Issues: Latest News: December 5th 2006

 
 

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:: Bactech/Mintek Biogold Plant Wins Environmental Award

BacTech Mining Corporation is pleased to learn that its patented BACOX technology has recently been included in an award given to Michelago Limited ("Michelago") in China. The award, deemed the Mining Environmental Protection Award, was issued at the inaugural China Mining 2006 awards ceremony in Beijing.

Michelago's Biogold facility in Shandong province has operated a bioleach plant since 2001. The plant, designed by BacTech and Mintek of South Africa, liberates gold from difficult to treat concentrates. BacTech/Mintek issued a license to Michelago on February 20, 2005 (the effective date) for a 5 year period, extendible for an additional 5 years on the same terms and conditions set out in the original license, subject to Michelago not being in default of the license at the time of renewal. In addition, BacTech/Mintek hold an option to purchase up to a 30% equity interest, at a fair market value, in any new projects acquired or developed by Michelago in the agreed to territories which use the BACOX technology.

The Biogold plant is presently undergoing an expansion, overseen by BacTech's Dr. Paul Miller, that should see a doubling of gold production from the bioleach facility to over 150,000 ounces of gold per annum. A royalty will be paid by Michelago to BacTech/Mintek from this additional production.

 

 

   

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