RCS - Draslovka a.s. - Draslovka and Barrick Gold agreement

Barrick GoldAnnouncement

06/03/2023 15:15

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RNS Number : 0336S  Draslovka a.s.  06 March 2023

 

6 March 2023

 

 

Barrick Gold to roll out Draslovka's Glycine leaching technology worldwide

 

Draslovka a.s ('Draslovka'), a leading specialty chemicals company, has agreed
with Barrick Gold Corporation ('Barrick'), to roll out a global testing and
implementation programme for Draslovka's cutting-edge proprietary glycine gold
leaching product, GlyCat(TM) ('GlyCat'), across several mines. The
implementation of Draslovka's technology can potentially unlock substantive
savings and generate value for Barrick's operations while improving their
environmental footprint.

 

GlyCat will enable a major shift for the mining industry's sustainability
profile by substantive replacement of cyanide used in processing of gold ores
with a non-toxic, food-grade reagent that is recyclable.  Depending on the
type of ore, using GlyCat in existing leaching circuits allows for a 20% to
80% reduction in cyanide usage while reducing or entirely eliminating cyanide
detoxification requirements.  In select ores, the process also results in
higher recoveries.

 

Supported by Draslovka's industry-leading service, GlyCat can potentially
achieve an average reduction in processing costs of 25%, rising to 50% for
some more complex ores.

 

Barrick is the first major mining company to recognise the potential glycine
leaching offers. The programme is an opportunity for GlyCat to be
systematically rolled out at a global scale, starting at the Bulyanhulu Gold
Mine in Tanzania and several other Barrick operations as a model for the wider
mining industry.

 

Largescale test work programmes will be undertaken at each site to quantify
the operating cost savings from the reduction of cyanide usage, potential
improvements in gold recovery, and lowering of cut-off grades, all of which
will allow operations to treat ore types that may have previously been
uneconomic.

 

Commenting on the agreement, Draslovka's CEO, Pavel Bruzek Jr, said:

"This agreement with Barrick marks an important milestone in Draslovka's
mission to improve the financial and environmental sustainability of mining
operations worldwide. Mining is critical for the evolution of society toward
lower emissions and the energy transition as a whole. GlyCat provides an
innovative and sustainable solution to address concerns around supply.

 

This strategic partnership sets a new standard for best practice in the gold
mining industry. I am excited to work together with Barrick, a global industry
leader, on this exciting venture and am confident that others in the mining
industry will follow suit to ensure a sustainable future."

 

Simon Bottoms, Mineral Resource Management and Evaluation Executive at
Barrick, added: "Rates of major gold and copper discoveries have been in
steady decline over the last decade, which when combined with a rapidly
evolving set of global challenges, is resulting in global supply challenges to
meet the growing global demand for such critical metals. As a result it is
imperative that the industry takes the necessary steps to maximise the value
from existing mines that are already operational or currently under
development.

 

At Barrick, optimising the geometallurgical understanding of our orebodies
from both economic as well as environmental aspects is a key aspect of both
our evaluation process and operating philosophy. Accordingly, we have
established a partnership with Draslovka to continue to test the application
of new technological innovations with the aim of delivering increased
long-term value to all stakeholders from our operations and projects while
also underlining our sustainability strategy which is our business plan."

 

ENDS

 

About GlyCat

GlyCat is Draslovka's patent-protected glycine leaching technology for the
recovery of gold using a dual-lixiviant system of glycine and sodium cyanide.
Glycine is a non-toxic, biodegradable and recyclable amino acid commonly used
as a food additive. Tests have demonstrated that GlyCat enables significant
operating cost savings from the reduction of cyanide, detoxification and other
leaching reagents, potential improvements in gold recovery as well as
reduction of waste and waste water treatment costs. It can enable the
treatment of previously uneconomical ores.

 

About Glycine leaching

Glycine is a non-toxic chemical that is fully biodegradable. As an example, it
is used as a feed supplement in animals as well as therapeutically to reduce
inflammation in humans. Glycine is a readily available chemical that is
manufactured in large quantities in the USA, Germany, Japan, China, and India
and finds its principal use in the formulation of herbicides, a food
supplement, and nutrients. Glycine can leach gold as well as most of the
nonferrous transition base metals, specifically copper, but also nickel,
cobalt and zinc. The common manufacturing processes to obtain glycine is the
combination of formaldehyde and ammonia along with hydrogen cyanide, a key
Draslovka product. Another manufacturing method is to combine chloroacetic
acid and ammonia.

 

About Draslovka Mining Solutions

The ambition of Draslovka's Mining Solutions business is to unlock new
opportunities by providing safer and more environmentally sustainable
processes that fill the gaps in the global supply of precious and base metals.

 

In February 2022, Draslovka acquired Mining & Process Solutions (MPS),
based in Australia, which owns the Glycine Leaching Technology IP and Know-How
- through its products GlyLeach(TM) and GlyCat(TM). This glycine leaching
method offers a new and environmentally sustainable hydrometallurgical process
to leach base and precious metal oxide, mixed oxide and sulphide ores.

 

This exciting technology has the potential to transform the leaching process
as well as other upstream and downstream processes, and will be key for
addressing the challenges the mining industry faces to source precious and
critical metals.

 

The purchase of MPS followed two major acquisitions by Draslovka Mining
Solutions in 2021: the US$520 million acquisition of Chemours' mining
solutions business and a US$95 million agreement to acquire Sasol's sodium
cyanide business, both of which cemented Draslovka's position as a major
global player in the industry. Draslovka's Mining Solutions business is
focused on the delivery of sustainable solutions for the mining sector at
large.

 

About Barrick Gold

Barrick's mission is to be the world's most valued gold and copper mining
business by finding, developing, and owning the best assets, with the best
people, to deliver sustainable returns for our owners and partners.

 

Barrick is a sector-leading gold and copper producer, operating mines and
projects in 18 countries in North and South America, Africa, Papua New Guinea
and Saudi Arabia.

 

Barrick's portfolio spans the world's most prolific gold and copper districts
and is focused on high-margin, long-life assets, with a highly diversified
workforce drawn almost entirely from host nations and equipped with
world-class skills.

 

The company's shares trade on the New York Stock Exchange under the symbol
GOLD, and on the Toronto Stock Exchange under the symbol ABX.

 

 

 Enquiries:

 FTI Consulting
 Viktor Pomichal / Ariadna D. Peretz
 Tel: +44 (0) 7890 417764
 Email: draslovka@fticonsulting.com

 

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