Miami, FL – August 3, 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).
Reuters reported this past Wednesday that the Ecuadorian government has passed new laws with respect to mine tailings. Ecuador’s ministry said companies would have 18 months to adjust their infrastructure to comply with the new rules. It added that it would institute annual audits to evaluate the stability of the dams and called on companies to develop an early warning system to monitor possible accidents.
To BacTech Environmental Corporation (OTC:BCCEF, CSE:BAC) this is very good news. The area in which BacTech has targeted has over 90 tailings dams, most of which sit precariously above the town of Ponce Enriquez, the site of a recent tailings mishap. Although BacTech is targeting the processing of high-grade gold/arsenic concentrates from the local mines using its bioleaching technology, it is important to remember that bioleach plants are modular in nature. Therefore, expansion of the plant as a phase 2 development could be used to remove toxic elements and gold. The tailings can then be resituated to safer areas.
These new laws are not strictly associated with Ecuador. Major gold producers such as Barrick Gold (NYSE:GOLD), Newmont Mining (NYSE:NEM), Agnico Eagle (NYSE:AEM) and Yamana (NYSE:AUY) who operate in countries such as Brazil are going to have to learn with the new normal. BacTech by virtue of using bioleaching, has the ability to be at the forefront of these environmental changes.
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