EcoMag is delighted to announce the launch of EcoMag Direct Specialty Chemicals.
Academic and commercial research labs, industrial engineers, scientists and innovators can now order EcoMag specialty magnesium chemicals online for delivery Australia wide.
Initially EcoMag Direct sells Hydrated Magnesium Carbonate, Caustic Calcined Magnesia, Hard Burned Magnesia, and Magnesium Citrate, and in the not too distant future, we plan to add Dehydrated HydroMagnesite, Magnesium DiHydroxide, HydroTalcite, Magnesium Hydrogen Phosphate and more. Subject to regulatory approvals we’ll also extend our sales to labs overseas.
All products are laboratory reagent quality and over time we plan to become a first choice supplier of best-in-class magnesium materials to the science and research community world-wide.
EcoMag’s application for a mining lease for the purposes of extracting Magnesium salts from brines and sea water was granted by Western Australia’s Department of Mines, Industry Regulation and Safety (DMIRS) on 19th November 2018.
This paves the way for EcoMag to construct a magnesium extraction and processing plant capable of producing 80,000 tonnes per annum of hydrated magnesium carbonate in Western Australia’s Pilbara, establishing a new business activity in the area and creating jobs for people living in the City of Karratha.
EcoMag utilises a proprietary technology to recycle the bitterns stream discarded by Australia’s largest solar saltworks as it passes down a channel to the ocean. Legally the extraction of magnesium is regarded as a mining operation, requiring approval from the WA Minister for Mines and Petroleum. EcoMag submitted its application in May.
“The granting of the mining lease is a major milestone,” EcoMag CEO Tony Crimmins said. “We now have regulatory approval to extract magnesium from the bitterns stream, which means we now have a business. We will require Department of Water and Environmental Regulation (DWER) authorization for our construction works but the approval process is straightforward, and we don’t anticipate major problems or delays.”
While the ancillary approvals are being processed, a team of around thirty in-house and consulting engineers, surveyors and analysts are finalizing the engineering for the plant with a financing level feasibility study due to be completed around the end of this month and plant front-end engineering expected to be finalized and signed off early in 2019.
As previously announced EcoMag is in the due diligence phase regarding a proposal to borrow $50 million from the Northern Australia Infrastructure Facility. EcoMag also plans to raise equity in an Initial Public Offering in early 2019 to complete its funding requirements for construction of the full-scale plant. The company will particularly seek ethical investors and responsible investment funds as long-term partners in the building of an Australian based, global, sustainable and ethical specialty chemicals enterprise.
“We subscribe to a view that is taking hold across the business world,” Mr. Crimmins said. “The information and telecommunications megatrend is maturing and the sixth industrial revolution is underway, the industrial transition to a low carbon and sustainable economy. We intend for EcoMag, and hopefully Australia more broadly, to be a part of this revolution.”
EcoMag’s business is inherently sustainable. Magnesium is the third most abundant element in seawater and EcoMag’s process recycles a waste stream that has been flowing into the ocean for decades. The elemental composition of EcoMag’s residual bitterns is much closer to that of seawater in both relative and absolute terms. EcoMag is also a low carbon emitter.
EcoMag Limited (EcoMag) is pleased to announce that the company’s proposal for Northern Australia Infrastructure Facility (NAIF) funding has moved to the Due Diligence phase of NAIF’s assessment process.
EcoMag utilises a proprietary technology to extract magnesium from a sustainable resource. The company recycles bitterns from Australia’s largest solar saltworks (view drone footage of the bittern stream here) to generate hydrated magnesium carbonate (HMC). EcoMag anticipates completion of a full scale plant around the end of 2019, capable of producing 80,000 tonnes per annum of HMC. This will become the seed chemical for a vertically integrated production chain of high value magnesium compounds for sale into international markets for industrial, environmental and specialty chemical applications.
The full-scale plant will be constructed in the Pilbara, in northern Western Australia, providing the remote region with much needed economic diversification away from reliance on iron ore, and vulnerability to commodity cycles. The plant will establish new manufacturing activity in northern Australia, boost economic growth in the region, generate construction and permanent employment, include improvements to local infrastructure, and help to attract other high value-added, technology related businesses.
“EcoMag’s business is inherently sustainable and environmentally beneficial,” the company’s Chief Executive Officer Tony Crimmins said. “We intend for EcoMag, and hopefully Australia more broadly, to leverage opportunities emerging from the industrial transition to a low carbon and sustainable economy.”
EcoMag’s plant will provide environmental benefits. The elemental composition of EcoMag’s residual bitterns is much closer to that of sea water in both relative and absolute terms, helping the local marine ecosystem. EcoMag’s proprietary process also results in lower carbon emissions than traditional magnesium extraction methods, providing a global benefit.
EcoMag also plans to raise equity in an Initial Public Offering in early 2019 to fund the construction of the full-scale plant. The company will seek ethical investors and responsible investment funds as long-term partners in the building of an Australian based, global, sustainable and ethical specialty chemicals enterprise.
The Hon Paul FLETCHER, Federal Minister for Urban Infrastructure and Cities and the Hon Richard COLLESS, Parliamentary Secretary for Natural Resources and Western NSW, joined dignitaries from Korea’s Daejoo-KC Group and Chonnam National University, together with UNSW Sydney and the CSIRO at the launch of EcoMag’s Chatswood Research & Development Plant yesterday to celebrate the collaboration of nations, public and private sectors, and research and commercial organisations that has made EcoMag possible.
“This is a very exciting development,” the Hon Paul FLETCHER said. “The success that EcoMag has achieved depends on a number of factors. First of all, we are an open country, keen to do business with Korea and other countries who are our good friends. Second we have strong universities, strong research institutions, well-funded, successful, and increasingly engaged with industry, and thirdly we have Federal and State governments focused on supporting innovation and backing people who have a go, who take technology, who take a commercial risk to go out and find a market and find an economic opportunity.”
EcoMag has been testing its high purity magnesium extraction technology on waste stream bitterns (saline flows) produced by solar salt producers in Western Australia. The Chatswood Research & Development Plant will be used to continue to refine process engineering, in preparation for the construction next year of a full-scale plant capable of processing 500 million litres of bitterns annually.
“It’s great to be here and to see this facility come to fruition,” Hon Richard COLLESS said. “To see this sort of technology coming forward, providing high tech industry … is really exciting.”
EcoMag was delighted to host representatives from the Daejoo-KC Group including Mr. Jeong Wook SEO, Senior Vice President who spoke of the close relationship between Daejoo-KC and EcoMag, Dr. Tae Woong KIM, Director of Research, and Dr. Qwang Hee SHIN, Deputy Director of Research, as well as Professor Myong Jun KIM from Chonnam National University, Professor Rose AMAL A.O. of UNSW Sydney, and Dr. Jack STEELE, Director of Science Impact and Policy at the CSIRO.
The event also celebrated EcoMag’s Initial Public Offering of shares in a $3-5 million capital raising, and application for official quotation of EcoMag shares on the Australian Stock Exchange. For more information, refer to the prospectus.
EcoMag Executive Chairman Tony CRIMMINS and Abundant Natural Health CEO Shanan BIRKIN with a gift of Abundant Natural Health products containing EcoMag magnesium to Jeong Wook SEO, Senior Vice President, Daejoo-KC Group, with Dr Dae Woong KIM, Director of Research, Daejoo-KC Group.
MR. Jeong Wook SEO, Senior Vice President, Daejoo-KC Group and the Hon Paul FLETCHER MP, Federal Minister for Urban Infrastructure and Cities, with EcoMag’s Professor Tam TRAN, Chief Technology Officer and Tony CRIMMINS, Executive Chairman.
EcoMag’s Chief Technology Officer, Professor Tam Tran shows investors a sample of EcoMag’s hydrated magnesium carbonate.
EcoMag Executive Chairman Tony CRIMMINS describes the warm reception he received at the Hamburg MagForum 2018
EcoMag General Manager, Shaun Triner updates shareholders with regard to preparations for the construction of EcoMag’s commercial scale plant in Western Australia.
EcoMag General Manager, Shaun Triner talks about the scaleability of EcoMag’s production capacity beyond 2020.
EcoMag’s Chief Technology Officer, Professor Tam Tran describes some of the research EcoMag is involved in.
The Hon Richard COLESS MLC, Parliamentary Secretary for Natural Resources and Western NSW and the Hon Paul FLETCHER MP, Federal Minister for Urban Infrastructure and Cities officially open the EcoMag R&D plant with Mr. Jeong Wook SEO, Senior Vice President, Daejoo-KC Group, and EcoMag’s Executive Chairman Tony CRIMMINS and Chief Technology Officer, Professor Tam Tran.
The Hon Paul FLETCHER MP, Federal Minister for Urban Infrastructure and Cities, with EcoMag Executive Chairman Tony CRIMMINS.
The Hon Paul Fletcher MP, Federal Minister for Urban Infrastructure and Cities, describes the combination of factors behind EcoMag’s success.
MR. Jeong Wook SEO, Senior Vice President, Daejoo-KC Group spoke of the close relationship between Daejoo-KC and EcoMag.
EcoMag Executive Chairman Tony CRIMMINS with The Hon Paul FLETCHER MP, Federal Minister for Urban Infrastructure and Cities
The Hon Richard Colless MLC, Parliamentary Secretary for Natural Resources and Western NSW describes his excitement about EcoMag’s technology.
Professor Myong Jun KIM of Chonnam National University explains the EcoMag process to an investor.
EcoMag Executive Chairman Tony CRIMMINS holds a traditional wedding gift from Mr. Jeong Wook SEO, Senior Vice President, Daejoo-KC Group, with Dr Dae Woong KIM, Director of Research, Daejoo-KC Group. The gift symbolizes the close woking relationship between the two companies.
ABC Radio’s Focus with Nadia Mitsopoulos interviews EcoMag’s Shaun Triner as part of an in-depth discussion about the increase in economic activity taking place in Western Australia’s north.
Kylah Morrison, CEO of the Karratha & Districts Chamber of Commerce points out that one of the features making the current economic pick-up different from previous cycles, is the emphasis on diversifying into value added businesses outside iron ore and liquid petroleum gas mining – including EcoMag.
Shaun Triner (from around 16 minutes in) talks about EcoMag’s triple bottom line goals (social, financial and environmental), provides insights into the global market for high purity magnesium products, and outlines plans for the Karratha Eco Hub Innovation and Industry Precinct.
A magnesium pilot project on the outskirts of Karratha has been launched to test the waters for potential commercial production by the end of 2019.
EcoMag will use technology developed in Australia and South Korea to extract magnesium compounds from salt production waste streams, resulting in a marketable product used in the likes of smartphones and flame retardants.
Western Australia’s City of Karratha has provided in-principle support for three business proposals that could see land at the site of Karratha Airport transformed into an eco-hub.
One of the proposed enterprises is the Sahara Forest Project that aims to produce fresh water, food and renewable energy through utilising seawater and harnessing energy from the sun.
Australian company Ecomag’s project is also under consideration for the site. EcoMag intends producing low cost, high purity magnesium compounds from brine waste streams from large scale salt production processes and solar energy.
The third potential project is associated with Rainstorm, a dust control company that has been operating since 1990.
According to City of Karratha Mayor Peter Long, a solar power plant of up to 20MW capacity could be built as part of these projects.