MONTREAL, Sept. 6, 2012 /CNW Telbec/ - Argex Titanium Inc. (TSXV: RGX) (FSE: ASV) (OTCBB: ARGEF) today announced it has successfully completed the production scale up of high purity titanium dioxide (TiO2) at its pilot plant.
Production capacity has increased from 0.3 kg/day to 10kg/day, a 3,000% increase in production. As stated in earlier news releases, this was achieved in two stages. First, the 3 kg/day capacity plant was installed and tested. A new 10 kg/day capacity plant was then constructed in an adjacent building. The pilot plant is located at PRO in Mississauga, Ontario.
"This successful scale-up provides another affirmation of our CTL chemical technology process. The primary purposes of the scale-up were to decrease pilot plant operating costs and increase TiO2 production volume, thus permitting end-user sampling on a much larger scale for use in their paint production. We can now produce more than three tonnes of TiO2 per year from our Mississauga plant," said Enrico Di Cesare, COO & VP Technology for Argex. "Scalability was never an issue. The delays experienced in the scale-up of the pilot plant were due to delivery delays and minor - but necessary - design changes to the building. This will not be a factor in the construction of our industrial plant."
"This is a significant milestone for the company," said Roy Bonnell, President and CEO of Argex. "Our team is focused on actively pushing Argex to the next level and, with key and experienced personnel in place, I believe we will get there in short order."
The CTL process is a proprietary mineral extraction process that allows for the production of high purity (99.8% pure) pigment grade TiO2 product, which can then be sold to the end-users in the paint, plastic and coating industries.
The process is unique in that it produces high-purity TiO2 in a single location through a single process directly from the ore material. The equipment used in all parts of the process is known and readily available.
The process is also environmentally friendly due to its high energy efficiency, low emissions and its closed-loop design, which uses relatively low concentrations of hydrochloric acid that is regenerated after use in the process.
About Argex Titanium Inc.
ARGEX TITANIUM INC. is a near-term producer of Titanium Dioxide. 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 run-of-mine material.
The process is running continuously at the mini-plant in Mississauga, Ontario. The closed-loop process is environmentally friendly and produces minimal inert tailings.
Additionally, the Corporation owns 100% of the Mouchalagane property, which is a large Labrador trough iron ore property that represents further potential upside for the Argex shareholders.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Argex Titanium Inc.
For further information:
Roy Bonnell, President and Chief Executive Officer
Argex Titanium Inc.
Argex Titanium Inc.
The Howard Group
Sarah Moreau, Consultant, Financial & Regulatory Affairs
514 395-0375, ext. 234