Alexander Mining receives proposal to buy AmmLeach technology
04 February 2010
AIM listed mining group Alexander Mining has received an indicative, non-binding proposal from a company that wants to buy its AmmLeach ammonia leaching technology on an outright basis for its global operations.
The move follows months of activity surrounding the technology, including approaches by a number of multinational mining companies interested in licensing AmmLeach.
The latest development has triggered a decision by Alexander to bring in independent technical experts to examine the potential capital and operating cost savings for a typical 50,000 and 100,000 ton per annum copper (with cobalt bi-product) mining operation with high acid consuming ore using AmmLeach.
In addition, the board has recommended that the company appoints an independent advisor to determine a fair commercial valuation of the AmmLeach technology based on its global application.
Alexander launched its new processing technology back in July 2007, initially for its own copper oxide deposits at the Leon copper project in Argentina. At the time, it said that there was significant potential for use on other base and precious metals and it has since focused on commercialising the technology.
Last summer, Alexander said it was attracting particular interest from companies working in the African copper belt –Zambia, the Democratic Republic of Congo and Southern Africa. There was also a notable amount of activity with other mid and small size mining companies, including involvement in distressed mining situations where the leaching technology could make a significant difference to the economic prospects of those situations.
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