Vancouver-based BioteQ Environmental Technologies Inc. (TSX:BQE) will expand its presence in China later this year when it builds a third water treatment plant there for Jiangxi Copper Co.
The plant will be located at the Dexing mine and represents a joint venture between BioteQ and Jiangxi, which is China’s second largest copper company.
The project will cost US$3 million to build and use BioteQ’s ion exchange technology to recover cobalt and nickel from the mine’s acid wastewater.
BioteQ believes the plant will help Jiangxi recover approximately 50,000 pounds of nickel and 60,000 pounds of cobalt every year that would otherwise go to waste.
Brad Marchant, BioteQ’s CEO, said in a statement: “This new project in China, along with the recently completed plant in the Canadian Yukon, delivers on our 2010 goal to add two new plants with ongoing operating contracts that provide recurring revenues to our operations portfolio.”
In December, the company signed an operating contract for one of its plants at Capstone Mining Corp.’s (TSX:CS) Minto mine in the Yukon.
BioteQ said construction at the new Dexing plant will begin later this year and revenue will be based on the amount of metals recovered.