TORONTO – BacTech Environmental Corporation announced that its 98% owned Bolivian subsidiary Empresa Minera Ambiental BacTech, has signed an association contract with Corporación Minera de Bolivia (COMIBOL), the state mining company of Bolivia.
The 10-year contract calls for the environmental remediation and restoration of the Antigua tailings and an option on the Nuevo tailings, both situated at the Telamayu mill site. Telamayu is situated near the town of Atocha in the department of Potosi.
The agreement envisions three phases, with the first phase focused on the completion of a technical study on the 600,000 tonne Antigua tails. Included in the study will be the drilling of a grid of 10 metre holes that will provide information for a NI 43-101 study. In addition, tailings material will be used in metallurgical studies to determine the optimal flow chart for the proposed plant.
The second phase will be the construction of a processing plant that will create concentrates of silver, tin and copper using conventional processing. There will be contributions from gravity separation, flotation concentration, and copper precipitation from water creating the final products leaving site.
The Telamayu mill has processed ores from the surrounding mines for over 70 years, with the Antigua and Nuevo tailings created from the operation. The existing infrastructure should lead to reduced capital costs.
The final stage is the commercialization of the plant which is expected to be completed within the next 12 to 15 months. All three stages require the posting of a performance bond that is released upon completion of each phase. BacTech has posted a bond of US$26,000 to cover the initial phase.
“This agreement provides BacTech with a soft entry into the Bolivian market. The combination of low capex, multiple metals for recovery and a strong partner in COMIBOL, provides a great stepping stone for additional environmental reclamation projects in partnership with COMIBOL in the future. Under the terms of the agreement, the company receives 100% of the cash flow in the initial 18 months or until the project financing debt is repaid, whichever comes first,” said Ross Orr, president and CEO of BacTech.
Visit www.BacTechGreen.com for information on the company’s pioneering environmental processes.