- Company’s quick and clean method of extracting magnesium, lithium and other valuable industrial minerals from well brine, while purifying byproduct mining wastewater, provides huge operational advantage
- MGXMF owns proprietary nanoflotation technology that, in just days versus months, can extract valuable minerals, such as magnesium and lithium, from oilfield lithium brine while purifying the wastewater byproduct
- MGX controls significant interest in magnesium, lithium and silicon assets throughout North America; it is Canada’s largest holder of lithium brine assets with around two million acres in North America
- MGX and its engineering partner use exclusively licensed and patented nanoflotation technology to offer oilfield operators wastewater handling solutions; this proprietary technology separates heavy metals and hydrocarbons from brine
- Company’s joint venture partner, Power Metals Corp., recently announced initial assay results from its drilling of 26.0 meters at Case Lake property located near Cochrane, Ontario
MGX Minerals, Inc.’s (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) proprietary and patented nanoflotation technology that quickly and cleanly extracts valuable industrial minerals, such as magnesium and lithium, from oilfield brine and purifies byproduct wastewater is a boon to investors. Its process is faster and less costly than other methods, and it is also far more environmentally friendly.
MGX is focused on creating shareholder value through development of its large-scale and diverse industrial mineral portfolios. The Vancouver, British Columbia-based company is disrupting the mining industry by quickly processing brine generated by oil and gas wells and extracting valuable minerals, such as magnesium and lithium carbonate — a key ingredient in the manufacture of lithium-ion batteries.
MGX has diverse mining holdings throughout Alberta and British Columbia, Canada, as well as in Utah. According to Reuters, it has acquired acreage that makes it one of Canada’s largest holders of lithium brine assets, with around two million acres in North America (http://dtn.fm/fd4HU). As announced by MGX, its joint venture partner, Power Metals Corp., recently received initial assay results from its drilling at the Case Lake property located near Cochrane, Ontario (http://dtn.fm/x9Hah).
Key to its valuation, MGX is able to perform the extraction and purification process much faster and more cost-effectively through its proprietary nanoflotation technology. This process separates heavy metals and hydrocarbons from brine, purifying the byproduct wastewater and creating brine feedstock for MGX’s quick recovery process. It has integrated the technologies of PurLucid Treatment Solutions, Inc., and its own.
Adding credibility to the story, PurLucid recently received $8.2 million in government funding (http://dtn.fm/p5KRU) from Sustainable Development Technology Canada (“SDTC”) and Emissions Reduction Alberta. Utilizing MGX resources, PurLucid will implement the lithium recovery process as a separate but associated project as early as January 2018. Extending from success achieved with the PurLucid pilot petrolithium recovery system deployed in August 2017, fabrication of the first small commercial PurLucid lithium recovery system will be completed in December 2017 and be ready for use in 2018 on the treated brines from the grant-supported project and other MGX brines successfully trialed with the bench-scale and pilot systems.
Jared Lazerson, MGX CEO, told Greentech Media (http://dtn.fm/C402l), “We’re currently in talks with many oil and gas companies for use of their water as well as (having) our own operations in Utah.” Lazerson said it is possible to get minerals from oil-extraction in just a few days rather than the 18 months that it normally takes under other methods. Not only is MGX’s process faster, it is also less costly.
Lazerson added that the MGX process has a pilot plant that can process a cubic meter of liquid per hour – allowing for a recovery rate of 99% for magnesium and almost 70% for lithium – and the byproduct is purified as clean water. MGX is already processing wastewater from two mines and six oil and gas sites across North America, according to Mines&Technology’s online site MINING.com (http://dtn.fm/5DzmM).
In a company press release (http://dtn.fm/8B67x), Lazerson said, “Removal of very high levels of magnesium opens up a large number of global lithium brine sources for consideration that were previously considered too high in magnesium. This represents a triumph of technology over perceived resource quality, in particular, that the magnesium has been extracted in a common form of widely used industrial mineral compound.”
According to researcher Future Market Insights (http://dtn.fm/qMM5o), the market for magnesium is projected to grow to $6.2 billion in revenues by 2026, reflecting a compound annual growth rate (CAGR) of 7.3%.
The global lithium market is projected by the Freedonia® Group to reach $1.7 billion with a 8.9% CAGR through 2019 (hhttp://dtn.fm/BURt2). Even larger is the market for lithium-ion batteries, which is expected to hit $46.21 billion by 2022, growing by a CAGR of 10.8%, as analyzed by Allied Market Research (http://dtn.fm/xpSd5). Electric and hybrid cars, smart phones and other devices will propel that growth.
For more information, visit the company’s website at www.MGXMinerals.com
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