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BQE Water Inc (2)
Symbol BQE
Shares Issued 1,256,928
Close 2023-01-26 C$ 30.00
Market Cap C$ 37,707,840
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BQE Water receives SART plant contract in China

2023-01-26 17:06 ET - News Release

Mr. David Kratochvil reports

BQE WATER SIGNS CONTRACT FOR THIRD SART PLANT IN CHINA

BQE Water Inc. has been awarded a contract for the design, construction and operation of an SART plant to improve gold leaching efficiency and overall cyanide management at a gold metallurgical facility in Shandong province, China, owned by Shandong Gold Mining, a state-owned corporation that is the largest gold producer in China.

With a contract structure similar to two previous SART plants in the province signed in 2019 and that are now in operation with support services from BQE Water, this contract has two project phases. The first involves engineering design, procurement, construction, plant commissioning and start-up. The second is for on-site operations support services for an initial period of five years in exchange for a quarterly service fee based on plant performance.

"The Shandong Gold contract solidifies our leadership position with the SART process technology, not only in China, but globally," said David Kratochvil, president and chief executive officer of BQE Water. "Cyanide management needs are on the rise from the mining of more deposits containing mineralization that interferes with gold leaching and the increased industry focus for projects to be environmentally responsible and socially acceptable. Through the capabilities of our team, we are committed to supporting the gold mining and smelting sector in meeting their project requirements."

Songlin Ye, vice-president for Asia, at BQE Water, added, "The fact that Shandong Gold sole sourced the project from BQE Water speaks volumes about our SART expertise, and with the backing of three SART plants for the three largest gold producers in the region, we look forward to further growing our cyanide management market in China and Asia in general."

Importance of cyanide management for the gold mining industry

Regulations around the world not only are advancing and target residual cyanide contained in waste water and tailings produced by mining and metallurgical operations, but also place strict limits for cyanidation and cyanide destruction byproducts such as ammonia, cyanate, thiocyanate and nitrite. A key aspect of cyanide management is cyanide recovery and recycle. The more cyanide that can be reused, the less fresh new cyanide that needs to be consumed and the less cyanide that must be destroyed by using additional chemicals, which produce byproducts requiring additional management. The goal is to ensure all discharges are non-toxic and do not cause impacts to the receiving environment. As such, proper cyanide management is key to the permitting of new projects and securing a social licence for gold producers.

Significance of Shandong province for China's gold production

As the largest gold-producing province in the country over the last 40 years, annual gold output for the Shandong province has exceeded 100 tonnes (3.5 million troy ounces) since 2011 and accounts for approximately 30 per cent of China's total gold production. The province is home to the country's top gold producers which are expanding their influence globally. In this region alone, where BQE Water has designed and implemented two SART plants, there are more than a dozen metallurgical plants that are focused on gold extraction and refining.

BQE Water's expertise in cyanide management

BQE Water is a global leader in the SART process, which enables cyanide consumed by base metals to be recovered and recycled, lowering the cost of gold extraction and reducing the environmental footprint of gold mining projects. BQE Water also provides solutions to manage the byproducts of cyanidation and cyanide destruction such as ammonia, nitrite and thiocyanate removal.

About BQE Water Inc.

BQE Water is a service provider, specializing in water treatment and management for metal mining, smelting and refining. It is helping to transform the way the industry thinks about water in the context of natural resource projects by offering services and expertise, which enable more sustainable water management practices and improved overall project performance at reduced risks. BQE Water invests in innovation, and has developed unique intellectual property through the commercialization of several new technologies at mine sites around the world for organizations, including Glencore, Jiangxi Copper, Freeport-McMoRan and the U.S. Environmental Protection Agency. BQE Water is headquartered in Vancouver, Canada, and trades on the TSX Venture Exchange under the symbol BQE.

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