Business
BacTech Environmental Investigates Bioleaching Potential in Peru Hires Knowledgeable Industry Executive to Lead Venture
TORONTO, ON. - TheNewswire - November 1, 2021 – BacTech Environmental Corporation (OTC:BCCEF) (CSE:BAC) (FSE:0BT1) (CNSX:BAC.CN) (“BacTech or the Company”), a c
About this update from Bactech Environmental Corp.
[{"type":"text","content":"TORONTO, ON. - TheNewswire - November 1, 2021 –BacTech Environmental Corporation (OTC:BCCEF) (CSE:BAC) (FSE:0BT1) (CNSX:BAC.CN) (“BacTech or the Company”), a commercially proven environmental technology company delivering effective biomining metal recovery and eco-friendly remediation solutions, today announced that it has launched a new initiative to formally investigate bioleach project opportunities in Peru. Similar to the start of the Company’s current commercial interests in Ecuador, the Peruvian field study will commence with the identification of arsenopyrite producers who are looking to maximize returns for their concentrates, while discussing opportunities with other miners to expand into arsenopyrite production knowing that a safe and profitable processing solution to treat high arsenic concentrates in country is being considered. There are many known arsenic gold mines in the area, and the consistent rumor that China started to impose arsenic importing restrictions this month has caused confusion in the marketplace, especially for those who produce high levels of arsenic alongside gold. “China has historically been the dominant buyer of arsenopyrite concentrates in Ecuador, and these importing restrictions have BacTech well-positioned to capitalize on this windfall,” said Ross Orr, President and CEO of BacTech Environmental. “We’ve heard that prices have dropped by as much as 20 per cent, which means local miners are getting less than 50 per cent of the gold value. BacTech will extend the same offer to Peru’s artisanal mining community that it has in Ecuador -- safe, earth-friendly solutions at superior prices.” “We know the time required to identify potential sources, collect representative samples for bioleach test work, engage a third-party Feasibility Study and ultimately finalize plant construction. Our activity in Peru dovetails nicely with our project in Ecuador, which we believe will be processing ore in 2022,” Orr continued. To help manage the Peru market study, BacTech has engaged the services of Oscar A. Alvarado Sr. Mr. Alvarado is a professional mining executive and senior technical advisor to several international companies. With an MBA and MSc in Mineral Economics and over 40 years of global experience, his career encompasses exploration, mining, processing, smelting/refining, business dev...