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MEI Online: Environmental Issues: Latest News: June 2nd 2003

 
    
:: SOQUEM Partnership Update - 79 Potential Sites Identified  

BioteQ Environmental Technologies Inc., reports that the initial site review of potential acid wastewater treatment projects in Quebec is progressing as anticipated. In cooperation with SOQUEM, the company is compiling a database of mining sites in Quebec that may have metal contaminated water for application of BioteQ's water treatment process. To date, 79 sites have been listed including past and present mine sites owned by active mining companies as well as abandoned orphan sites under the jurisdiction of the Ministry of Natural Resources, Wildlife and Parks of Quebec. Six sites at operating mines have been identified as fast track projects.

It is anticipated that the initial review of potential sites in Quebec will be completed by the fourth quarter this year. The initial review should provide the information required to evaluate project economics and establish a priority listing for possible commercial sites. The partnership anticipates selecting at least one of the sites for construction during 2004.

The MOU signed with SOQUEM INC., a wholly-owned subsidiary of SGF Minéral inc as previously announced, provides for the formation of a 70/30 partnership where BioteQ is the majority partner and operator of treatment plants built in Quebec in partnership with SOQUEM. The proposed partnership has the mandate to identify, develop and operate water treatment facilities in Quebec utilizing BioteQ's BioSulphide Process, on a cost shared basis pro rata with partnership interest.

BioteQ is a Canadian industrial process technology company that has developed the patented BioSulphide ProcessTM for water treatment and sulphide reagent production. BioteQ's process plants allow the treatment of acid contaminated water with concurrent recovery of saleable metals from the water. Water from the process plants meets discharge water quality criteria. In addition, chemical grade sulphide reagent can be produced on demand from BioteQ's process.

BioteQ's plant at the Caribou Mine in New Brunswick is the first commercial plant in North America incorporating the BioSulphide technology. BioteQ is currently evaluating over 30 water treatment projects worldwide. Potential revenue streams from BioteQ's water treatment technologies are plant sales, recovered metals, treatment fees, reagent sales and process licensing and are subject to variable commercial terms, project scope and commodity pricing.

The management of BioteQ has extensive experience in environmental aspects of the minerals and related industries, with internationally recognized expertise in many aspects of acid contaminated water management and plant operations.

SOQUEM INC. is a division of SGF Minéral inc., which is a subsidiary of the Société Générale de Financement du Québec ("SGF"). The mission of the SGF is to carry out economic development projects in cooperation with partners and in accordance with accepted requirements of profitability in particular in the industrial sector.

 

   

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Contact:
Brad Marchant
President & CEO
BioteQ Environmental Technologies Inc
Phone:(604) 685-1243
Fax: (604) 685-7778

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