News

ECOMAG’S MINING LEASE IS APPROVED

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.

PilbaraNewsMiningApprovalEcoMag 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.”

6thIndRev

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’s Project in Due Diligence Phase with NAIF

Press Release: Monday 19th November 2:30pm

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.

Site drone capture

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.

Media enquiries: Walter Munro 0401 345 687

Chatswood Product Development Plant launch

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.

WA’s new “mining+” boom

ABC Radio Focus

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.

Listen to Focus online or download the episode here.

 

Magnesium pilot project starts up in Karratha

The West Australian, January 17, 2108

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.

Read the full article at thewest.com.au/news/pilbara-news/magnesium-pilot-project-starts-up-in-karratha-ng-b88707908z

The New Pilbara

The Pilbara Economic Development Conference,  Sep 6, 2017

Shaun Triner, General Manager – Western Australia for ECOMAG presents to the Pilbara Economic Development Conference regarding developing industries supporting new uses for materials.

[In a twenty minute video presentation made available via YouTube, Shaun discusses EcoMag’s plans in the context of the broader community goals for the Pilbarra.]

Solar Powered Eco Hub Proposed For Karratha

Solar Quotes, August 30, 2017

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.

Read the full article at solarquotes.com.au/blog/karratha-eco-hub-solar-mb0186/

Kalium Lakes and EcoMag partner up

Mining Magazine, Jul 6 2017

Kalium Lakes has signed a letter of intent with magnesium processor EcoMag to trial the recovery of hydrated magnesium carbonate from brine samples. The sample will be taken from the large scale pilot pond works under construction at Kalium’s Beyondie sulphate of potash project in Western Australia.

Read the full article at miningmagazine.com/resources/industrial-minerals/kalium-lakes-and-ecomag-partner-up/