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MEI Online: Environmental Issues: Latest News: June 23rd 2003

 
    
:: Operating Agreement Signed for Bisbee Project  

BIOTEQ reports that an operating agreement for the Bisbee project has been signed by BioteQ and Phelps Dodge Mining Company, a division of Phelps Dodge Corporation. The operating agreement provides the terms and conditions for the operation of a Joint Venture water processing project at the Bisbee site for recovery of copper from a low-grade process stream. An engineering report prepared by BioteQ, previously announced, estimates the total capital cost of the project at $US 1.9 million, before contingency. The net operating revenue is estimated at approximately $US 1.05 million per year at a copper price of $US 0.75 per pound.

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. In addition, chemical grade sulphide reagent can be produced on demand from BioteQ's process. BioteQ also offers this technology for use in recovering metals from process streams.

BioteQ's plant at the Caribou Mine in New Brunswick is the first commercial plant in North America incorporating the BioSulphide-Thiopaq 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 royalties, 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.

 

   

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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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