Clean TeQ Holdings Limited (
Clean TeQ or
Company) (ASX/TSX:CLQ; OTCQX:CTEQF) announces the
successful achievement of formal completion and handover of a
ground-breaking Continuous Ion Exchange Desalination
(
DESALX®) plant at the Fosterville Gold Mine in
Victoria, Australia owned by Kirkland Lake Gold Ltd. (TSX/NYSE: KL
& ASX: KLA).
Sam Riggall, Clean TeQ CEO, stated “After
successfully demonstrating the world’s first ever commercial scale
CIF® plant in Oman late last year, this is yet another moment of
great significance for Clean TeQ. Confirmation of the
successful deployment of our innovative DESALX® solution for this
application, designed and delivered by Clean TeQ, is strong
validation of our proprietary continuous ion exchange technology,
and provides us with a firm foothold in the mining waste water
treatment market from which we can continue to grow the business.”
At the Fosterville Gold Mine in Victoria,
Australia, Clean TeQ was engaged to design, supply and commission a
two million litre-per-day Clean TeQ DESALX® mine water treatment
plant. The plant is designed to deliver a sustainable water
management solution by treating mine process water.
The plant construction was completed in late
2019, with commissioning and operations commencing in early
2020. The Company is pleased to confirm that the Clean TeQ
designed and constructed plant has now passed the performance tests
specified in the engineering, procurement and construction contract
and the customer has issued a formal notice of acceptance and
completion.
The DESALX® technology consists of two
continuous ionic filtration (CIF®) modules in
series removing divalent cations and anions present in the water
through complementary processes. The CIF® modules contain ion
exchange resins that are cycled between columns using air lifts,
allowing for continuous operation and regeneration of the system.
This system increases impurity removal efficiency, reduces chemical
use, and provides protection against fouling. The DESALX® solution
is well suited to purification of difficult to treat waste waters
with high hardness, sulphate, and heavy metals as well as suspended
solids which can foul reverse osmosis membranes. These types
of waste waters are common in the mining industry, including acid
mine drainage water.
At Fosterville, the equipment provided by Clean
TeQ includes a precipitation package to remove Antimony and
Arsenic. The effluent from the clarifiers is treated by the DESALX®
plant to remove Sulphate, Calcium, and Magnesium with gypsum as the
only by-product. The DESALX® effluent is then further treated by
reverse osmosis to produce water for re-use. The Clean TeQ system
is a key enabling component of the customer’s overall water
management strategy which includes a medium-term target of creating
a true ‘zero liquid discharge’ solution that does not produce any
saline brine and includes aquifer reinjection.
Clean TeQ Water is now focused on completing one
additional key project at a copper-cobalt mine in the DRC, and a
number of pilot programs in China. This Clean TeQ system, as well
as the plants recently completed in Oman and Australia, are the
first of their type anywhere in the world and have been deployed as
part of three different technical solutions. The successful
delivery and commissioning of these plants provides strong
demonstration of the efficacy of Clean TeQ’s suite of proprietary
ion exchange technologies and their versatility for metal
extraction and waste water treatment. As commercial scale
plants, the facilities provide a valuable platform from which to
now rapidly grow Clean TeQ Water.
The mining and minerals processing industry
provides Clean TeQ Water with significant opportunities across the
globe. As a result of tightening environmental regulations
and increasing social and environmental awareness among investors,
other water stressed areas in parts of Latin America, the Middle
East, Africa, China, India, and Australia, are expected to see
great investment into water management technologies, with a strong
focus on water recovery and recycling, zero liquid discharge and
metal recovery technologies. The global mining water and
wastewater treatment market is estimated to be valued at
approximately $5 billion per annum, with projections that it will
expand to approximately $8 billion by the end of 20231. With
a demonstrable track record of successfully delivering customised
water treatment solutions for a range of mining and mineral
processing customers, Clean TeQ is uniquely positioned to
capitalise on this growing market.
For more information, please
contact:Ben Stockdale, CFO and Investor Relations
(Australia) +61 3 9797 6700
This announcement is authorised for release to
the market by the Board of Directors of Clean TeQ Holdings
Limited._________________1 Research and Markets: Growth
Opportunities for Sustainable Solutions in the Global Mining Water
and Wastewater Treatment Market, Forecast to 2023
About Clean TeQ Holdings Limited
(ASX/TSX: CLQ) – Based in Melbourne, Australia, Clean TeQ
is a global leader in metals recovery and industrial water
treatment through the application of its proprietary Clean-iX®
continuous ion exchange technology. For more information about
Clean TeQ please visit the Company’s website www.cleanteq.com.
About the Clean TeQ Sunrise
Project – Clean TeQ is the 100% owner of the Clean TeQ
Sunrise Project, located in New South Wales. Clean TeQ Sunrise is
one of the largest cobalt deposits outside of Africa, and one of
the largest and highest-grade accumulations of scandium ever
discovered.
About Clean TeQ Water – Through
its wholly owned subsidiary Clean TeQ Water, Clean TeQ is also
providing innovative wastewater treatment solutions for removing
hardness, desalination, nutrient removal, zero liquid discharge.
The sectors of focus include municipal wastewater, surface water,
industrial waste water and mining waste water. For more information
about Clean TeQ Water please visit www.cleanteqwater.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute
“forward-looking statements” or “forward-looking information”
within the meaning of applicable securities laws. Such statements
involve known and unknown risks, uncertainties and other factors,
which may cause actual results, performance or achievements of the
Company, , Clean TeQ Water, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. Such statements can be identified by the
use of words such as “may”, “would”, “could”, “will”, “intend”,
“expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, occur or be achieved. These statements reflect
the Company’s current expectations regarding future events,
performance and results, and speak only as of the date of this new
release.
Statements in this news release that constitute forward-looking
statements or information include, but are not limited to,
statements regarding: the effectiveness of Clean TeQ’s proprietary
water treatment processes; the growth in size of applicable target
markets; and the potential for the Company to expand its sales of
water treatment plants. Readers are cautioned that actual results
may vary from those presented. All such forward-looking information
and statements are based on certain assumptions and analyses made
by Clean TeQ’s management in light of their experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believe
are appropriate in the circumstances. These statements, however,
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 information
or statements including, but not limited to, unexpected changes in
laws, rules or regulations, or their enforcement by applicable
authorities; the failure of parties to contracts to perform as
agreed; changes in commodity prices; unexpected failure or
inadequacy of infrastructure, or delays in the development of
infrastructure, and the failure of exploration programs or other
studies to deliver anticipated results or results that would
justify and support continued studies, development or operations.
Other important factors that could cause actual results to differ
from these forward-looking statements also include those described
under the heading "Risk Factors" in the Company's most recently
filed Annual Information Form available under its profile on SEDAR
at www.sedar.com.
Readers are cautioned not to place undue reliance on
forward-looking information or statements.
Although the forward-looking statements contained in this news
release are based upon what management of the Company believes are
reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the
date of this news release and are expressly qualified in their
entirety by this cautionary statement. Subject to applicable
securities laws, the Company does not assume any obligation to
update or revise the forward-looking statements contained herein to
reflect events or circumstances occurring after the date of this
news release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/eaad18f8-3be4-406d-bd55-16adf0972fb7
https://www.globenewswire.com/NewsRoom/AttachmentNg/1cc3e370-2ff5-4c36-aa27-6decd2820a61
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