Miami, FL – June 19, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Bactech Environmental Corp. (OTC Pink: BCCEF), (CSE: BAC).
The Perth Mint (owned by the Western Australian Government) has begun an independent audit after an order from Western Australian Premier Mark McGowan to review how the Mint oversees its suppliers, following allegations of buying “conflict” gold from Papua New Guinea (“PNG”).
Last week, the Australian Financial Review, said its’ investigation revealed that the Mint buys up to $138M worth of gold a year from companies that buy gold from artisanal (small or independent) miners in PNG. The Mint denied the allegations, stating that it adheres to responsibility guidelines.
The issue here is identifying where the gold was mined and by whom. Artisanal miners work in deplorable conditions and are exposed to dangerous levels of mercury, often leading to mercury poisoning because of its ability to separate gold from rock. The Minamata Convention on Mercury is an international treaty designed to protect human health and the environment from anthropogenic emissions and releases of mercury and mercury compounds. It was signed by 128 countries in 2013 and is a ban on the use of mercury for gold processing.
Companies such as Barrick (NYSE: GOLD), Newmont Mining (NYSE: NEM), Franco Nevada (NYSE: FNV) and Newcrest (NASDAQ: NCMGF) adhere to the treaty and rules of properly producing gold ounces while countries have been very aggressive in converting illegal miners to legal miners with the intent of overseeing their activity.
As a solution
Companies and governments are looking to BacTech’ bioleaching technology as the “gold standard” for detoxifying their tailings ponds which will save their miners and government coffers a great deal of money.
BacTech’s (OTC Pink: BCCEF) bioleaching technology processes artisanal mine output without the use of mercury, adhering to the Minamata Conference edict and would only purchase from artisanal miners who have registered with their respective government.
In Ecuador, instead of illegal miners risking their health for quick, cheap sales to the Chinese, BacTech will be purchasing, for a bit more, legal concentrates from legal miners.
BacTech has built and commissioned 3 bioleach plants to date. The plant built in Tasmania; Australia successfully operated for over 15 years before the associated mine was depleted. In China, BacTech built a plant in Laizhou which was subsequently doubled in size several years later.
The Company’s plan for Ecuador is the construction of a 50 ton per day plant that will treat high gold/arsenic concentrates in Ponce Enriquez. BacTech will target producers who make concentrates that exceed 40 grams per ton 1.3 ounces per ton). We believe that there are several countries in South America that could be sites for future bioleach plants.
“As BacTech’s Bioleaching technology continues to become widely investigated by governments and producers alike, the future for profitable gold production is real and the future for BacTech becomes even brighter.” In Ecuador we believe if we build it, they will come, and we intend to do so,” said Ross Orr, President and CEO of BacTech.
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