Cotec Investment Ceibo Partners with Glencore's Lomas Bayas to Support Revolutionary Copper Leaching Technology
CoTec Holdings announces that Ceibo has partnered with Glencore's Lomas Bayas Mining Company to implement Ceibo's proprietary leaching technologies for enhanced copper extraction from low-grade sulphides in Chile. After two years of testing, Lomas Bayas is scaling up testing through Lomas Lab to evaluate the technology's potential for extending mining operations. Ceibo's technology offers a revolutionary process for leaching low-grade primary copper sulphides using inorganic leaching technology, promising higher recovery rates and shorter operational cycles. The company raised over US$30 million in Series B financing led by Energy Impact Partners, with participation from BHP Ventures, Orion Industrial Ventures, and other investors.
CoTec Holdings annuncia che Ceibo ha stretto una partnership con Glencore's Lomas Bayas Mining Company per implementare le tecnologie di lisciviazione proprietarie di Ceibo, al fine di migliorare l'estrazione di rame da solfuri a bassa gradazione in Cile. Dopo due anni di test, Lomas Bayas sta ampliando le prove attraverso Lomas Lab per valutare il potenziale della tecnologia nel prolungare le operazioni minerarie. La tecnologia di Ceibo offre un processo rivoluzionario per la lisciviazione dei solfuri di rame primari a bassa gradazione utilizzando tecnologia di lisciviazione inorganica, promettendo tassi di recupero più elevati e cicli operativi più brevi. L'azienda ha raccolto oltre 30 milioni di dollari in finanziamenti di Serie B guidati da Energy Impact Partners, con la partecipazione di BHP Ventures, Orion Industrial Ventures e altri investitori.
CoTec Holdings anuncia que Ceibo se ha asociado con la Compañía Minera Lomas Bayas de Glencore para implementar las tecnologías de lixiviación propietarias de Ceibo para mejorar la extracción de cobre de sulfuros de baja ley en Chile. Después de dos años de pruebas, Lomas Bayas está ampliando las pruebas a través de Lomas Lab para evaluar el potencial de la tecnología para extender las operaciones mineras. La tecnología de Ceibo ofrece un proceso revolucionario para la lixiviación de sulfuros de cobre primarios de baja ley utilizando tecnología de lixiviación inorgánica, prometiendo tasas de recuperación más altas y ciclos operativos más cortos. La empresa recaudó más de 30 millones de dólares en financiamiento de Serie B liderado por Energy Impact Partners, con la participación de BHP Ventures, Orion Industrial Ventures y otros inversores.
CoTec Holdings는 Ceibo가 Glencore의 Lomas Bayas 광업 회사와 협력하여 칠레의 저급 황화물에서 구리 추출을 향상시키기 위해 Ceibo의 독점 리칭 기술을 구현한다고 발표했습니다. 2년간의 테스트 후, Lomas Bayas는 Lomas Lab을 통해 기술의 광업 운영 연장을 평가하기 위해 테스트를 확대하고 있습니다. Ceibo의 기술은 무기 리칭 기술을 사용하여 저급 기본 구리 황화물을 리칭하기 위한 혁신적인 프로세스를 제공하며, 더 높은 회수율과 짧은 운영 주기를 약속합니다. 이 회사는 Energy Impact Partners의 주도로 B 시리즈 자금 조달에서 3000만 달러 이상을 모금했으며, BHP Ventures, Orion Industrial Ventures 및 기타 투자자들이 참여했습니다.
CoTec Holdings annonce que Ceibo s'est associé à la Compagnie Minière Lomas Bayas de Glencore pour mettre en œuvre les technologies de lixiviation propriétaires de Ceibo afin d'améliorer l'extraction du cuivre à partir de sulfures de basse teneur au Chili. Après deux années de test, Lomas Bayas intensifie les tests via Lomas Lab pour évaluer le potentiel de la technologie pour prolonger les opérations minières. La technologie de Ceibo offre un processus révolutionnaire pour la lixiviation de sulfures de cuivre primaires de basse teneur utilisant une technologie de lixiviation inorganique, promettant des taux de récupération plus élevés et des cycles opérationnels plus courts. L'entreprise a levé plus de 30 millions de dollars lors d'un financement de Série B dirigé par Energy Impact Partners, avec la participation de BHP Ventures, Orion Industrial Ventures et d'autres investisseurs.
CoTec Holdings gibt bekannt, dass Ceibo eine Partnerschaft mit Glencores Lomas Bayas Mining Company eingegangen ist, um Ceibos proprietäre Laugungstechnologien zur Verbesserung der Kupferextraktion aus niedergradigen Sulfiden in Chile zu implementieren. Nach zwei Jahren Tests weitet Lomas Bayas die Tests über Lomas Lab aus, um das Potenzial der Technologie zur Verlängerung der Bergbaubetriebe zu bewerten. Ceibos Technologie bietet einen revolutionären Prozess zur Laugung von niedergradigen primären Kupfersulfiden mit Hilfe von anorganischer Laugungstechnologie, die höhere Rückgewinnungsraten und kürzere Betriebszyklen verspricht. Das Unternehmen hat über 30 Millionen US-Dollar in einer Serie-B-Finanzierung gesammelt, die von Energy Impact Partners geleitet wurde, mit Beteiligung von BHP Ventures, Orion Industrial Ventures und anderen Investoren.
- Partnership with major mining company Glencore validates Ceibo's technology
- Technology successfully tested for two years by Glencore
- Potential to extend mine life through improved copper extraction
- Secured significant funding of US$30 million in Series B financing
- Technology offers faster recovery rates and shorter operational cycles
- Technology still requires scaling validation before commercial deployment
- Success of larger-scale implementation remains uncertain
VANCOUVER, BC / ACCESSWIRE / November 20, 2024 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that Ceibo has partnered with Glencore‘s (GB:GLEN) Lomas Bayas Mining Company to deploy Ceibo's proprietary leaching technologies targeting a more effective extraction of copper from low-grade sulphides at one of Chile's leading mines.
Following two years of testing by Glencore, Lomas Bayas has validated Ceibo's technology and is scaling up testing to assess if Ceibo's technology is an alternative to extend the life of their mining operations. Testing will begin on-site through Lomas Lab, a Glencore world-class test site. This agreement demonstrates Ceibo's technical progress towards commercialisation with a major mining company and affirms the potential value that Ceibo's advanced leaching technologies could bring to copper assets globally.
Julian Treger, CoTec CEO commented, "We are very pleased that Ceibo has completed this agreement with Lomas Bayas. This represents a major step in the scaling of their technology and further demonstrates the attractiveness and potential of the technology in large, long life, copper sulphide deposits. Ceibo has been making good progress over recent years and CoTec has started the process to identify assets for Ceibo to commercially deploy its technology."
Ceibo has developed a revolutionary process to leach low-grade primary copper sulphides, such as chalcopyrite, and copper waste material using a proprietary high throughput inorganic leaching technology. Ceibo's leaching processes extract copper in all sulfides using existing leaching plants. This process more quickly and effectively catalyzes the oxidation in the ore through electrochemical reactions, resulting in higher recovery rates in shorter operational cycles.
If scaling is successful, CoTec believes that Ceibo's technology will represent a leading, low-carbon, high recovery primary and waste copper sulphide heap leaching process. This could deliver considerable value through a significant reduction in the time required to bring additional copper into production, a competitive cost structure and a lower environmental and carbon footprint, protected by a high technical barrier to entry.
CoTec participated in Ceibo's Series B financing round in 2022, which was led by Energy Impact Partners and a syndicate of mining-focused investors, including - in addition to CoTec - BHP Ventures, Orion Industrial Ventures and Unearth Capital, together with existing investors Khosla Ventures and Aurus Ventures. In total, Ceibo raised over US
About CoTec
CoTec is a publicly traded investment issuer listed on the TSX Venture Exchange ("TSX-V") and the OTCQB and trades under the symbols CTH and CTHCF, respectively. The Company is an environment, social, and governance ("ESG")-focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company transitions into a mid- tier mineral resource producer.
CoTec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The Company has made four investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements". Forward-looking statements involve risks and uncertainties, including statements relating to management's expectations with respect to its investment in Ceibo, CoTec's views as to the potential benefits of Ceibo's technology and other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com, and in the Company's filings with Canadian securities regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: CoTec Holdings Corp.
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FAQ
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