EnviroGold Global Ltd, a clean technology company accelerating the world’s transition to a circular-resource economy, has provided an update on key initiatives related to its multi-year strategy, including progress on acquiring major projects for its tailings reprocessing business line.
Consistent with the company’s strategy of remediating and reducing the environmental footprint of mine waste and tailings, EnviroGold Global continues to target tailings reprocessing opportunities where there is potential for the company to process tailings volumes exceeding 1 million t with a gross recoverable value of no less than US$100/t.
Tailings are the by-product of mining and mineral processing methods that often contain significant quantities of valuable precious, critical and strategic metals, which can be recovered through reprocessing and remediation methods.
The total addressable market for the tailings reprocessing industry is massive. There is an estimated 282.5 billion t of tailings currently sitting on the Earth’s surface, with an additional 12.7 billion tpy of tailings produced. The value of precious, critical and strategic metals contained in mine tailings is estimated to exceed US$3.4 trillion (total addressable market) with over US$ 370 billion of tailings metal content in the company’s expected serviceable and obtainable markets. Further market segmentation undertaken by the company, including internal research, has identified a target market opportunity that could exceed US$10 billion. The acquisition and development of the target market opportunities into high-value metal production projects forms the basis of the company’s five-year growth strategy.
EnviroGold Global has one major project under contract, three major projects subject to MoUs, is negotiating commercial terms on two additional major projects and is conducting advanced analysis on three qualified major project opportunities. The company expects to leverage its rapid analysis capabilities, its innovative profit share business model, and its scalable, modular approach to project development to acquire and develop nine major projects by 2025, with seven of the nine projects in commercial metal production by this time.
The company will continue to provide updates on the acquisition and development of major projects, including its Buchans River Delta Rehabilitation Project (refer to news release dated 20 September 2021).
EnviroGold Global’s CEO, Dr. Mark Thorpe, said: “As a purpose-driven company committed to producing ‘Metals Without Mining’ while positively impacting our shared ecosystem, we are excited about the size and scale of our global market and incredibly confident in our team’s capability to consistently execute on the company’s our five-year plan. We look forward to continuing to share our journey as we establish an ESG leadership position while profitably accelerating the world’s transition to a circular resource economy.”
Read the article online at: https://www.globalminingreview.com/environment-sustainability/02112021/envirogold-global-outlines-five-year-plan/