GETECH Group plc New Contracts & Sales in Critical Minerals Sector (8320F)
24 March 2022 - 6:00PM
UK Regulatory
TIDMGTC
RNS Number : 8320F
GETECH Group plc
24 March 2022
24 March 2022
Getech Group plc
("Getech" or the "Company")
New Contracts and Sales in Critical Minerals Sector
Getech, the net zero technology provider and data-led energy
asset developer, is pleased to announce that it has won new
contracts with leading mining companies to explore for sedimentary
copper, iron oxide-copper-gold deposits, and other minerals
critical to the delivery of the Energy Transition.
These contracts result from investment by Getech to expand the
application of geoscience and data products that the Group
originally developed as petroleum solutions - positioning them as
essential tools in locating and developing new critical mineral
deposits.
Using its proprietary data and workflows, Getech can identify
the specific factors responsible for the location and economic
concentration of energy and critical minerals. This information is
delivered and managed through Getech's unique platforms, such as
Globe, which contain the Group's world-leading gravity and magnet
datasets and earth systems knowledge.
The total initial value of these new contracts is c.
GBGBP110,000, which adds to Getech's existing revenue from the
mining sector. The Company's focus is to use its new critical
mineral products to expand revenue generation and where
appropriate, explore equity participation in off-grid energy
solutions.
Getech's Chief Executive Office, Dr Jonathan Copus,
commented:
"As we leverage our flagship products and world-leading data to
unlock value in new markets, these sales demonstrate the
versatility of our foundation products and solutions, and their
adaptability in locating and de-risking different commodities
across a wide range of geographies.
Against the current complex geopolitical backdrop, we see
Getech's ability to locate and define new geographically-diverse
sources of critical minerals as essential to delivering a secure
and sustainable energy transition. This is driving an expansion of
interest in our unique offering, and as a trusted partner providing
integrated local solutions to global energy challenges, this also
presents us with opportunities for participation in these
projects."
Details of new contracts
1. Sedimentary copper project in Australia - Getech signed an
agreement with a leading international mining company based in
Australia to assess the potential for sedimentary copper
accumulations in an area of interest in Australia.
2. Multi-mineral project in South America - Getech signed an
agreement with a resources company based in Asia to undertake an
evaluation of a multi-mineral project in South America. Getech will
utilise its gravity and magnetic data expertise to high grade areas
of potential iron oxide-copper-gold (IOGC) mineralisation in their
area of interest.
3. Multi-mineral project in North America - The client, a global
mining and metals company based in Australia, has licensed Getech's
Globe product, which will be used to carry out genetic analyses for
critical minerals projects in North America.
For further information, please contact:
Getech Group plc Tel: 0113 322 2200
Jonathan Copus, Chief Executive
Cenkos Securities plc Tel: 0207 397 8900
Neil McDonald / Pete Lynch (Corporate Finance)
Michael Johnson / Dale Bellis (Sales)
Camarco Tel: 020 3781 8331
James Crothers / Toby Strong / Charles Dingwall
Notes to editors:
Getech (AIM: GTC) helps countries and companies to manage their
natural resources and energy infrastructure to assist in the
delivery of a successful energy transition to a net zero economy.
We use our extensive geoscience and geospatial technology, data and
skills to locate sustainable energy resources, de-risk and optimise
their development, and to ensure long-term economic production. Our
focus is on scalable projects that can deliver meaningful impact
across industries including oil and gas, critical minerals,
geothermal, green hydrogen, and carbon capture and storage.
Getech is also using its data, technology, and skills to build
its own portfolio of low-carbon assets. The Group is developing its
first green hydrogen projects in Inverness and Shoreham, targeting
decarbonization of the commercial transport sector across multiple
green hydrogen hubs. UK commercial fleet fuel demand, which in 2019
totalled GBGBP12 billion, is set to fully decarbonise by 2050.
For further information, please visit www.getech.com .
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