Strategic Metals Provides Update on Portfolio Holding: Terra CO2 Technology
Strategic Metals (TSXV:SMD) announced that its portfolio company Terra CO2 Technology Holdings has been awarded US$52.6 million in funding from the Department of Energy to establish a new manufacturing facility in Magna, Utah. The facility will produce Supplementary Cementitious Material (SCM), using mine tailings from Rio Tinto's Kennecott mine as feedstock. The facility aims to produce 240,000 tons per year of SCM with 70% lower emissions compared to traditional cement production, potentially reducing carbon emissions by 150,000 tons annually. Strategic Metals currently holds 15 million shares, representing an 11.7% stake in Terra.
Strategic Metals (TSXV:SMD) ha annunciato che la sua società in portafoglio, Terra CO2 Technology Holdings, ha ricevuto 52,6 milioni di dollari in finanziamenti dal Dipartimento dell'Energia per stabilire un nuovo stabilimento di produzione a Magna, Utah. Lo stabilimento produrrà Materiale Cementizio Supplementare (SCM), utilizzando i residui minerari della miniera Kennecott di Rio Tinto come materia prima. L'obiettivo è produrre 240.000 tonnellate all'anno di SCM con emissioni inferiori del 70% rispetto alla produzione di cemento tradizionale, riducendo potenzialmente le emissioni di carbonio di 150.000 tonnellate annuali. Strategic Metals attualmente detiene 15 milioni di azioni, che rappresentano una partecipazione dell'11,7% in Terra.
Strategic Metals (TSXV:SMD) anunció que su empresa en cartera, Terra CO2 Technology Holdings, ha recibido 52,6 millones de dólares en financiamiento del Departamento de Energía para establecer una nueva instalación de fabricación en Magna, Utah. La instalación producirá Material Cementoso Suplementario (SCM), utilizando los desechos mineros de la mina Kennecott de Rio Tinto como materia prima. La instalación tiene como objetivo producir 240,000 toneladas por año de SCM con 70% menos emisiones en comparación con la producción de cemento tradicional, lo que podría reducir las emisiones de carbono en 150,000 toneladas anuales. Strategic Metals actualmente posee 15 millones de acciones, lo que representa una participación del 11,7% en Terra.
Strategic Metals (TSXV:SMD)는 자회사인 Terra CO2 Technology Holdings가 에너지부로부터 5,260만 달러의 자금을 지원받아 유타주 마그나에 새로운 제조 시설을 설립한다고 발표했습니다. 이 시설은 리오 틴토의 케네콧 광산에서 나오는 광산 잔여물을 원료로 하여 보조 시멘트 재료(SCM)를 생산할 예정입니다. 이 시설은 전통적인 시멘트 생산에 비해 70% 낮은 배출량으로 연간 240,000톤의 SCM을 생산하는 것을 목표로 하며, 잠재적으로 연간 15만 톤의 탄소 배출량을 줄일 수 있습니다. Strategic Metals는 현재 1,500만 주를 보유하고 있으며, 이는 Terra에 대한 11.7%의 지분을 나타냅니다.
Strategic Metals (TSXV:SMD) a annoncé que sa société en portefeuille, Terra CO2 Technology Holdings, a reçu 52,6 millions de dollars de financement du Département de l'énergie pour établir une nouvelle installation de fabrication à Magna, Utah. Cette installation produira du Matériau Cimentaire Supplémentaire (SCM), en utilisant des résidus miniers de la mine Kennecott de Rio Tinto comme matière première. L'objectif de l'usine est de produire 240 000 tonnes par an de SCM avec des émissions inférieures de 70% par rapport à la production de ciment traditionnelle, ce qui pourrait permettre de réduire les émissions de carbone de 150 000 tonnes par an. Strategic Metals détient actuellement 15 millions d'actions, représentant une participation de 11,7% dans Terra.
Strategic Metals (TSXV:SMD) gab bekannt, dass ihr Portfolio-Unternehmen Terra CO2 Technology Holdings 52,6 Millionen US-Dollar an Finanzierung vom Energieministerium erhalten hat, um eine neue Produktionsanlage in Magna, Utah, zu errichten. Die Anlage wird Supplementäres Zementmaterial (SCM) produzieren, indem Abfälle aus der Kennecott-Mine von Rio Tinto als Rohstoff genutzt werden. Die Anlage hat das Ziel, 240.000 Tonnen pro Jahr SCM mit 70% niedrigeren Emissionen im Vergleich zur herkömmlichen Zementproduktion herzustellen, wodurch die Kohlenstoffemissionen potenziell um 150.000 Tonnen jährlich reduziert werden können. Strategic Metals hält derzeit 15 Millionen Aktien, was eine 11,7%ige Beteiligung an Terra darstellt.
- Secured significant US$52.6 million government funding
- Production capacity of 240,000 tons per year of SCM
- 70% lower emissions compared to traditional cement production
- Strategic partnership with Rio Tinto for feedstock supply
- None.
VANCOUVER, BC / ACCESSWIRE / October 22, 2024 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") is pleased to announce that Terra CO2 Technology Holdings Inc. ("Terra") has been selected as a recipient of US
Additional information can be found at https://www.energy.gov/mesc/advanced-energy-manufacturing-and-recycling-program-selections. The following is an excerpt from Energy.gov.
"Project Description:
Terra will establish a new manufacturing facility in Magna, UT, dedicated to producing an innovative high-performing Supplementary Cementitious Material (SCM), a low-emission, cost-effective replacement for traditional Ordinary Portland Cement (OPC). The project will use local, above-ground mine tailings from Rio Tinto's Kennecott mine as feedstock to produce 240,000 tons per year of local SCM, at lower cost and
The facility in Magna, Utah is in addition to the Cleburne Project, a state-of-the-art processing facility, where Terra has partnered with Asher Materials to supply SCM in the Dallas-Fort Worth market.
Additional information about the Cleburne Project is available on the Terra website: https://www.resources.terraco2.com/cleburne-project
Strategic currently holds 15 million shares or
About Strategic Metals Ltd.
Strategic is a project generator with 13 royalty interests, 13 projects under option to others, and another 83 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
In addition to its Terra shares, Strategic has a current cash position of approximately
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com
Neither the 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 release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
View the original press release on accesswire.com
FAQ
How much funding did Terra CO2 Technology receive from the Department of Energy?
What is Strategic Metals' (TSXV:SMD) ownership stake in Terra CO2 Technology?
What is the annual production capacity of Terra's new Magna, Utah facility?
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