SURREY, B.C., Nov. 21, 2019 (GLOBE NEWSWIRE) -- Mineworx Technologies Ltd., (the "Company" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) announce that the Company, in conjunction with it’s majority JV partner, EnviroLeach Technologies Inc. (CSE: ETI) (OTCQB: EVLLF) (7N2: FSE) has completed the commissioning of its Greater Vancouver E-Waste recycling plant.
Preliminary commercial production has commenced at the EnviroCircuit E-Waste processing facility located in Surrey, BC, Canada. Starting with a single shift per day, the Company will incrementally increase process throughput to 5 tonnes per day of printed circuit boards by January 1, 2020. Additional shifts will be added to achieve the targeted plant capacity of 20 tonnes per day (6,000 tonnes per year) by end of June 2020.
During commissioning, EnviroLeach has also successfully implemented improved mechanical processes and systems, which enable the treatment of complete IT components, such as set top boxes, modems, power supplies, switches and routers. The Company has also completed the installation of a new patent pending process for the enhanced recovery of chemical ingredients and rinse water treatment. This newly developed process not only optimizes economics, it also ensures a sustained zero water effluent operation.
EnviroLeach management continues to focus on establishing additional key partnerships for both high value E-waste feedstock and joint ventures worldwide. Over the last eight weeks, management has generated measurable interest from several domestic and international OEM’s and E-waste recyclers.
Duane Nelson, President and CEO comments: “We are excited to enter the revenue stage of our operations and the positive response from global electronics manufacturers, OEM’s and recyclers is very encouraging. We are in a unique situation within a rapidly expanding and under-developed sector. The results of our extensive commercial market analysis demonstrate a vast emerging global market now estimated to exceed 110 million tonnes annually by 2026. OEM’s and E-waste recyclers worldwide are increasingly seeking economic and sustainable E-waste processing solutions. EnviroLeach’s proprietary, patent pending technology suite offers the only true cost-effective, environmentally friendly and sustainable solution. Our team’s priorities are to secure immediate full capacity feedstock contracts for our initial plant and determine the location and capacity of our next facility.”
“This is a significant milestone for the EnviroCircuit facility, positioning it at the forefront of commercial viability and environmentally-friendly E-Waste recycling,” commented Greg Pendura, President and CEO of Mineworx. “I want to acknowledge and congratulate the dedicated team efforts of all the technical teams in realizing this achievement.”
About Mineworx
Mineworx is positioned for growth through partnerships with advanced mining projects as well as E-Waste opportunities through its collaboration with EnviroLeach Technologies. By utilizing its patented and patent pending environmentally friendly portable extraction technologies along with its licensed non-toxic, cyanide free precious metals formula these innovations will increase and enhance business opportunities by deploying cost effective, extractive metallurgical solutions.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is a technology Company engaged in the development and commercialization of environmentally friendly formulas and technologies for the treatment of materials in the mining and recycling sectors. Using its proprietary non-cyanide, water-based, neutral pH treatment process, the EnviroLeach formula extracts precious metals from ores, concentrates, and E-Waste using only FDA approved additives and ambient temperature water.
EnviroLeach has formed an unincorporated joint venture with Mineworx Technologies Inc. to build and operate the EnviroCircuit E-Waste recycling plant. EnviroLeach is the operator and has control over the decision-making process of the joint venture and will share in the profits or losses of the joint venture on an 80% basis.
Backed by the momentum of a first-class staff of scientists and engineers, tens of thousands individual assays, independent validations and strategic partners and over $15 Million dollars in research and development, EnviroLeach’s technology will become the standard for the provision of eco-friendly methods for the hydrometallurgical extraction of precious metals in both the conventional mining and E-Waste sectors. Further information is available on the EnviroLeach web site: https://enviroleach.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Mineworx’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Mineworx believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Mineworx does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
For further information, go to www.mineworx.net
For further information contact:
MINEWORX TECHNOLOGIES LTD.
Rick Gliege, V.P. Corporate Development
250-751-3661
rick@mineworx.net