Orbite Aluminae's technology tackles the aluminum industry's most serious problem
MONTREAL, QUEBEC--(Marketwire - July 31, 2012) - Canadian clean tech company Orbite Aluminae Inc. (TSX:ORT) (the "Company" or "Orbite") is pleased to announce that it has developed a patented technology that can treat red mud, the most significant waste product of the traditional Bayer process for aluminum production. The Company thus offers the only ecologically sound and commercially viable alternative to manage and eliminate these toxic residues.
According to the International Committee for Study of Bauxite, Alumina & Aluminium (ICSOBA), alumina producers generated in 2011 alone more than 100 million tonnes of red mud of which only 5% was reused(1). The rest is stored in ponds and reservoirs, entailing significant environmental risks. For example, on October 4, 2010, a flood of toxic red mud devastated Hungary after a retaining dyke ruptured, causing an ecological disaster. India, China, Canada, and Brasil have also been affected by spills. The environmental and social costs associated with the Bayer process and global aluminum production have become so high that several countries now oppose the development of new mining and production facilities. Orbite''s technology is an ecological and economically viable solution to this problem.
Orbite''s technology converts red mud into a dry, inert, and most importantly, environmentally neutral residue that is less than 90% the volume of its original state. High commercial value products are also recuperated in this process, including alumina (which can make up 25% of red mud), ultra-pure hematite (which is what gives the toxic residue its red colour) and magnesium oxide, as well as rare metal oxides that can have significant residual economic value. Orbite''s team of engineers has verified these results using red mud samples with properties characteristic common to those that currently confront the alumina industry. The Company developed a large-scale industrial process capable of treating red mud while individually recovering its main components.
Orbite now intends to license its technology to producers interested in reducing their environmental footprint and their risk of contamination, but also in reducing operating costs and growing their revenues.
About Orbite
Orbite Aluminae Inc. is a Canadian clean tech company whose innovative technologies are setting the new standard for alumina production. Orbite''s technologies enable environmentally-neutral extraction of smelter-grade alumina (SGA), high-purity alumina (HPA) and high-value elements, including rare earths and metals, from a variety of sources such as aluminous clay and bauxite, without generating the toxic red mud residue that the traditional Bayer process produces. The Company owns ten different families of intellectual property rights (and patents pending) filed across the world for the extraction of alumina at the highest standards of sustainability. Orbite also owns exclusive mining rights over a total of 60,984 hectares including the 6,665 hectares Grande-Vallee property, the site of an aluminous clay deposit in Quebec, Canada. An NI 43-101 compliant report identified over 1 billion tonnes of aluminous clay in part of this deposit. Orbite is currently converting its 2,600 m2 pilot plant in Cap-Chat, Quebec, Canada into a full-scale high-purity alumina production facility, and expects this plant to be fully operational in early 2013. The Company also anticipates the launch of construction of its first SGA plant towards the end of 2013. Orbite plans to offer SGA and HPA products and to license its low processing cost technologies to well-qualified producers who want to reduce their environmental footprint. Orbite has recently entered into partnerships with the world''s largest aluminum producer, UC Rusal, and Asia''s largest aluminum complex, National Aluminium Company Limited.
Forward-looking statements
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management''s good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company''s control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management''s Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
(1) ICSOBA - International Committee for Study of Bauxite, Alumina and Aluminium. International Seminar on Bauxite Residue (Red Mud), October 17-19, 2011, Goa, India. http://bit.ly/MpAPPs
Contact Information
Rachel Chan
H+K Strategies Hong Kong
General Manager,
Head of Financial Communications-Greater China
+ (852) 2894 6309
rachel.chan@hkstrategies.com
KW Lam
H+K Strategies Hong Kong
General Manager, Financial Communications
(852) 2894 6218
kw.lam@hkstrategies.com
Dorothy Ying
H+K Strategies Hong Kong
Senior Account Executive
(852) 2894 6255
dorothy.ying@hkstrategies.com
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