VANCOUVER, B.C.– BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial waste water, has provided an update for current operations, development projects, and corporate goals for 2010. Plants in China and Quebec have operated to expectations, the re-start of operations in Australia, Arizona, and Mexico are proceeding as planned, and new development projects are underway. Target markets for BioteQ’s water treatment technologies include the resource and energy sectors in Canada, the US, Mexico, China, and Chile. The company’s goal is to have six new projects in 2010.
Brad Marchant, BioteQ’s Chief Executive Officer stated, “We are optimistic about BioteQ’s growth potential for 2010. We are working to bring all of our operating assets into active production, we have secured new contracts, and we have a clear set of goals for 2010 to guide our business development and engineering priorities.”
Project details are noted below:
Existing Plants Operating to Expectations
The Dexing water treatment plant in China, a 50-50 joint venture with Jiangxi Copper, continues to deliver strong operating results. BioteQ’s revenue from the plant is based on its share of copper recovered and sold. The Dexing operation treated approximately 5.3 million cubic meters of water and recovered approximately 1.7 million pounds of copper by the end of 2009. Plant operating costs met the $1.1 million operating budget for the year. In 2010, the Dexing plant performance is expected to be similar to 2009, subject to seasonal variation in precipitation. The dry season is typically from late fall to early spring.
The Raglan ChemSulphide® water treatment plant in Quebec delivered strong operating results for the 2009 operating season. The plant treated 915,000 cubic meters of water, exceeding its 2009 budget of 750,000 cubic meters. Plant operating costs for 2009 were approximately $450,000, in line with budget expectations. BioteQ charges fees based on the amount of water treated. In 2010, the Raglan plant is expected to treat approximately 750,000 cubic meters of water; the volume of water to be treated is subject to annual precipitation.
In addition to the ChemSulphide® plant at Raglan, BioteQ delivered operating services for the Spoon lime treatment plant on a fee-for-service basis. This contract will continue in 2010.
The Wellington Oro plant, in Breckenridge Colorado, continues to operate as designed. The zinc-cadmium concentrate is sold to a refinery and recycled back to the metals industry. The plant is owned and operated by the Town of Breckenridge; BioteQ provides ongoing operational support services for a fee.
Plant Re-Starts are Proceeding
BioteQ has initiated the re-start of operations at the Bisbee water treatment plant in Arizona. The plant is expected to contribute to revenue during the first quarter of 2010, subject to completion of required re-start conditions. Operating details will be provided when the re-start is complete.
BioteQ completed the re-start requirements for the Mt. Gordon water treatment plant in Australia. The plant has an inventory of approximately 100,000 pounds of copper as a result of the planned re-start period. BioteQ is currently negotiating sales terms for this concentrate with site owner, Aditya Birla. Regular plant operations have been temporarily suspended, as planned, while the plant undergoes modifications to meet the long-term water treatment needs of the site. Concurrently, BioteQ is negotiating a contract for additional water treatment services with the site owner and will provide details should a contract be finalized.
NWM Mining has successfully raised close to $4 million in equity financing to re-start mining operations at the Lluvia de Oro mine in Mexico. BioteQ has received the first monthly loan re-payment of $50,000 from NWM Mining as of January 2010, and expects to receive lease payments of $150,000 per month starting October 2010, for the SART plant built by BioteQ. The loan and lease payments include interest and profit on the plant.
Development Projects Underway
BioteQ has completed the design of a water treatment plant for the Minto Mine in the Canadian Yukon, and secured an operating contract for the plant, to commence in the spring of 2010. Plant procurement and construction is in progress, and the project is on schedule. BioteQ is charging a fee for design, construction and operation of the plant. The mine owner is paying for the capital and operating consumable cost of the plant.
BioteQ has completed the design of a second SART plant announced earlier this fall. Construction is now in progress at the site. The scope of BioteQ’s contract has been expanded to include operator training and plant commissioning, to take place in the spring of 2010, on a fee basis. The mine owner will pay for the capital cost and operating consumables of the plant, and will manage ongoing operations.
2010 Corporate Goals
BioteQ continues to provide innovative water treatment solutions and operating expertise, focused on the resource and energy sectors in Canada, the US, Mexico, Chile, and China. The company has established a corporate goal of 6 new water treatment projects for 2010, including:
- Two “design” projects where BioteQ expects to provide process design and commissioning services for fees;
- Two “design-supply-operate” projects where BioteQ expects to provide complete plant design and construction services as well as commissioning and ongoing operating services for fees; and
- Two pilot operations for fees, where BioteQ hopes to introduce its technologies into new markets in the oil sands and the power generation industries.
BioteQ Corporate Profile
BioteQ is a water treatment company that applies innovative technologies and operating expertise to solve challenging water treatment problems, reducing environmental liabilities while delivering lower life cycle costs for water treatment. The Company’s commercially proven technologies treat industrial wastewater contaminated with dissolved heavy metals and sulphate, producing saleable by-products and clean water that can be discharged safely to the environment. BioteQ has built 8 plants at sites in Canada, the US, China, Australia and Mexico, with additional projects in design and construction.
BioteQ has been named one of Canada’s Top 50 Most Socially Responsible Corporations by Jantzi Research and Maclean’s, and the company’s sustainable water treatment solutions have been recognized with the Canada Export Achievement Award, the Globe Award for Environmental Excellence, the PDAC Award for Environmental and Social Responsibility, the China Mining Environmental Protection Award, and the Mines & Money Sustainable Development Award. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, please go to www.bqewater.com.
On behalf of the Board of Directors