Mineworx has developed a patent pending heavy mineral extraction process and a new business model for the precious metals mining sector.
The unique, integrated water clarification and filtration technologies allow operators to recycle most of the process water used at a typical mine site. This conserves water, minimises environmental discharge and significantly reduces or eliminates the necessity for tailings ponds.
The Mineworx business model is to seek out advanced-stage mineral deposits on which to employ its portable processing technologies, and to partner with the existing owners and operators to advance these deposits to profitable production in a timely and cost effective manner.
Mineworx has invested over three years and C$3.5 million to design, engineer and complete the prototype development and testing of the proprietary, environmentally friendly mine processing technology.
Mineworx will operate as a 100% wholly owned subsidiary of Iberian Minerals.
“The acquisition of Mineworx has uniquely positioned Iberian to both reduce or negate the significant risks to those in the mining industry as well as to our shareholders,” said Greg Pendura, president and CEO of Iberian Minerals. “The Mineworx technology provides an uncommon union of growth, environmental safeguarding and restored viability to miners that, as a result of global economic forces can't advance their deposits. Mineworx offers disruptive solutions that address and deal head on with these very real restrictions to growth.”
“Our Mineworx team worked very closely with the management of Iberian Minerals during the previous four months to complete their evaluation of our technology and business model,” said Duane Nelson, president of Mineworx. “I have every confidence that the skill sets brought together through the amalgamation of our two companies will now enable the Mineworx technology to be properly deployed with a business strategy focused on delivering real growth alternatives to a mining industry and its shareholders that have experienced significant challenges in recent years.”