DNI: TSX-Ven, DG7: Frankfurt
TORONTO, Oct. 14 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has engaged the Alberta Research Council to collaborate on conducting a study of the CO(2) absorptive characteristics of samples from the polymetallic black shales on its 2,536 sq km of Properties in Alberta. The research study will test carbon capture and sequestration capacity of the shales to evaluate them as potential geologic hosts. The study augments other work being carried out directly by Dumont under its own direction at separate commercial research facilities.
The Alberta Research Council is a recognized pioneer in developing innovative ways of converting, capturing and storing carbon, having accumulated extensive experience in carbon technologies while leading major research projects involving industry and government over the past two decades.
Black shales have demonstrated capacity for capturing and storing CO(2) via injection. Black shale tailings, and other mineral matters, are also capable of similarly capturing and permanently storing CO(2) via mineral sequestration methods under substantially ambient conditions. The Alberta black shales' potential as a host to storing CO(2) has not been tested, nor have other options been evaluated to achieve same via mineral carbonation under ambient conditions.
Dumont's envisaged operations to extract metals from its black shales offer previously untested incidental opportunities to capture CO(2) in "spent" shale mine waste, and additional possibilities to utilize envisaged backfilled open pit volumes as geologic reservoirs for capture and sequestration via CO(2) injection methods. The current study is intended to collect baseline experimental data and is the first of several stages of testwork intended to fully evaluate various options.
World interest in reducing greenhouse gas emissions has been steadily increasing over the past few years, and large CO(2) emitters are increasingly under considerable public and regulatory pressure to reduce their emissions. Where companies desiring to reduce their emissions cannot do so by modifying their operations, they may purchase carbon (CO(2)) offset credits from others who are able to reduce emissions or are capable of sequestering carbon through activities of their own. There are currently a number of active carbon emission reduction credits trading systems in the world, and cost of carbon credits has increased at least tenfold over the past few years.
Alberta created the first North American compliance carbon offset system in 2007, and in June 2009 the government of Canada announced draft rules outlining Canada's CO(2) offset credits trading rules. The rules serve to commoditize CO(2) credits and will help harmonize what has to date been a patchwork of emerging Provincial trading schemes toward better coordination of national CO(2) emissions mitigation activities and related credits trading with those elsewhere in the world. It is anticipated that the rules will enable valuation of CO(2) offsets created in Canada against international trading price structures, and will ultimately afford sale of such credits to buyers worldwide.
Dumont regards the CO(2) mitigation potential of its polymetallic black shale projects to be an integral part of the ultimate value represented by the shales, and also regards any carbon offsets which might be realized from the projects as a commodity which is additional to any metals which might be recovered from the shales. Dumont will continue assessment of the CO(2) mitigation potential of its polymetallic black shale projects as an integral part of its exploration and development of the Properties.
Dumont continues to focus its efforts on its polymetallic black shale Properties in Alberta, and on its carried interest in the recent diamond discovery from its Attawapiskat Property, Ontario.
This announcement includes forward looking statements which are subject to risks and uncertainties that could cause actual results to vary. Risks include uncertainties in connection with the future of carbon offsets credits trading in Canada and worldwide, and the extent to which CO(2) offsets which might be achieved on the Properties in the future will comply with then offset certification regulations in effect all of which are currently in their formative stages.
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DNI - TSX Venture
DG7 - Frankfurt
SOURCE DNI Metals Inc.
For further information: For further information: Dumont Nickel Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman, (416) 595-1195, email email@example.com; Also visit www.dumontnickel.com