Argex Titanium Inc.
ARGEX TITANIUM INC. has recently transitioned from a mining
exploration company to a near-term producer of commodities that the world
needs: Titanium Dioxide (TiO2), Iron and Vanadium Pentoxide (V2O5). With a
primary goal of advancing rapidly towards production, Argex has adopted a
simple and low risk strategy for the scale-up of its proprietary process that
allows it to produce high purity TiO2 directly from its 100% owned deposit.
On April 3, 2012, Argex announced the signing of a technology collaboration with PPG Industries, the second largest paint company in the world, to develop and optimize pigment grade TiO2 for paints and coatings. They will combine PPG’s coatings technology and expertise with Argex’s TiO2 proprietary processing technology. The TiO2 is intended to be compatible with various end-use applications for PPG and would be produced by Argex. Argex and PPG have agreed to certain terms of mutual exclusivity during the negotiation period of the purchase and supply agreement.
Argex, in collaboration with the highly skilled
metallurgists at Process Research Ortech, has developed a proprietary mineral
extraction process that allows for the production of high purity (or 99.8%
pure) pigment grade TiO2 product which can be sold at premium prices to the
end-users in the paint, plastic and coating industries.
The process is running continuously at the Company’s pilot
plant in Mississauga, Ontario. The closed-loop process is environmentally
friendly and produces minimal inert tailings.
The process is unique because of its ability to produce high
purity TiO2, Iron and V2O5 through a single process directly from the ore
material. The equipment used in all parts of the process is known and readily
available. The innovation of the process lies on how the equipment is used and
on how the solvents and temperatures are properly balanced. The process
operates at atmospheric pressure, thus avoiding the need to handle chemicals at
very high temperatures.
The process is also environmentally friendly due to its high
energy efficiency, low emissions and its closed-loop design which uses
relatively low levels of hydro chloric acid that is regenerated after use. The
process produces minimal inert tailings from the La Blache ore deposit.
Ultimately, these tailings could be used by the local construction industry for
Argex released on June 29, 2011 its 43-101 compliant resource estimate on its La Blache property. On October 26, Argex released the results of its preliminary economic assessment (PEA) which confirms the technological and economic viability of Argex’s proprietary metallurgical process and clears the path towards the next step, the construction of an industrial-sized pilot plant.
Additionally, the Company owns 100% of the Mouchalagane property, which is a large Labrador Trough iron ore property that represents further potential upside for the Argex shareholders and Management.