BacTech Signs Association Contract with COMIBOL for Remediation of Telamayu Tailings, Bolivia
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BacTech Environmental Corporation’s 98 percent owned Bolivian subsidiary Empresa Minera Ambiental BacTech S.A. (EMABSA) has signed an association contract with Corporacion Minera de Bolivia (COMIBOL).
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 meter 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. Engineering of the plant will be conducted by Bumigeme Inc. of Montreal, Canada.
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.
There is considerable infrastructure at the mill site including power, rail, a mill housing and a local workforce. The Telamayu mill has processed ores from the surrounding mines for more than 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 USD$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 percent 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.
About BacTech
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. The company’s principal focus is a high- grade silver/copper tailings project called Telamayu, located in Atocha, Bolivia, in association with COMIBOL, the state mining group. The company signed an MOU with Duran Ventures Inc. to explore the viability of building a BACOX plant in Peru to treat high-grade gold/arsenic ores. Investigation has begun to identify similar opportunities in Ecuador. The company continues to field inquiries globally with respect to additional opportunities for remediation, including licensing transactions for the technology.
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