Gindalbie Metals has become the first company to announce plans for the use of a new mineral processing technology developed by Curtin University, with initial focus on its Mount Gunson copper-cobalt project in South Australia.
Gindalbie Metals has become the first company to announce plans for the use of a new mineral processing technology developed by Curtin University, with initial focus on its Mount Gunson copper-cobalt project in South Australia.
The GlyLeach Process is an alkaline-based process, spun-out of Curtin's Western Australian School of Mines, that can leach copper from copper oxide, mixed oxide and supergene sulphide ores, primary copper sulphide ores, as well as gold.
The major reagent in the process is glycine, a cheap amino acid that is environmentally safe, biodegradable and easily metabolised in most living organisms, according to Curtin.
Curtin says glycine has advantages over other extraction techniques due to its chemical and physical properties, including its ability to be easily recovered and recycled, keeping operating costs low.
It also offers the gold industry a non-toxic method of leaching gold.
Gindalbie announced today that it had executed two separate non-exclusive licence agreements with the current rights holder, Mining Process and Solutions, a Perth-based organisation that was awarded the exclusive licence to the technology by Curtin last July.
The first agreement is a territory specific licence, which Gindalbie has executed in conjunction with Terrace Mining, for the use of the technology at its South Australian Mount Gunson copper-cobalt project farm-in.
This is the first major project to be licensed to use the technology and GlyLeach will be one of several potential process solutions to be evaluated for the processing of ores at Mount Gunson.
MPS rights for the technology currently cover Australasia, Asia, North and South America, with the ability to expand licensing to other areas given agreed criteria is satisfied.
A global licence (excluding China and Zimbabwe) for the use of GlyLeach on primary gold, copper and zinc projects was also executed by Gindalbie.
This second licence permits the miner to use the technology on new projects that arise during ongoing business development and strategy work, where Gindalbie will work with MPS to identify deposits on a global scale that are responsive to the application of glycine technology.
Gindalbie chief executive Chris Stevens said the agreement provided the company with an opportunity to use the new technology at Mount Gunson, but also in its other projects globally.
“We are delighted to be working with MPS who not only bring their GlyLeach technology but also a wealth of knowledge and expertise in the field of mining and mineral processing,” he said.
“We are looking forward to working with MPS in the course of our ongoing business development to consider how we might use this and other technologies to unlock deposits.”
The potential application of glycine technology to the Mount Gunson project will be evaluated during ongoing scoping study and feasibility work.
MPS will receive a royalty for the use of the technology based on a net smaller return from future revenue flows of projects where the technology is applied.
Gindalbie has secured a significant discount to standard market royalty rates, due to the company being an early adopter of the technology.
Any other fees paid to MPS will be based on a standard schedule of rates for test work, where test work fees are captured within existing budget estimates for the Mount Gunson project.
Gindalbie shares closed 5.8 per cent lower today at 1.6 cents per share.
