Jatenergy to market energy material recovery technology in RI
Tuesday, January 21 2014 - 01:21 AM WIB
ASX-listed Jatenergy Limited announced Tuesday that it has entered into an agreement with TTG Technologies Resources Pty Ltd to market its energy material recovery technology in Indonesia.
TTG has access to mineral processing and waste recovery technology. The technology was developed by Chonnam National University (CNU) in South Korea, and under agreement with TTG is marketed globally with the exception of Korea itself. The technology covers a range of materials including gold, silver, copper, cobalt, magnesium, molybdenum, rhenium, lithium, nickel and rare earths.
Currently Dong Bu Metals in South Korea have a license to the technology for the recovery of manganese from waste ferrous manganese fumes. The technology has demonstrated high recovery (90%) of pure manganese products with 25-40 percent comparative opex and capex savings to conventional refining.
Under the agreement, Jatenergy will market the mineral recovery technology exclusively to Indonesian mining ore. TTG and Jatenergy will share 50 percent of all revenues from each technology license sold in Indonesia either it be an upfront fee, royalty and/or equity in the process.
The exclusive license is based on three years with automatic extension if Jatenergy is able to secure commitment(s) to the technology in Indonesia.
Energy materials such as lithium and manganese are in strong demand due to the rise of the hybrid vehicle. Manufactures of hybrid cars are required to source future reserves of lithium and manganese to maintain their car cost structure. TTG technology allows for the recovery of these materials from stream that are considered to be too low in concentrate to process.
?As with Coal Plus this technology creates real value from inputs streams considered to be worthless. Upgrading low value mineral concrete to high purity and valued product is what Jatenergy is promoting. Mine tailing considered to be waste now have a renewed consideration using this upgrading technology?, said Jatenergy Director, Ian Gebbie.
Jatenergy?s strategy is to continue to market its Indonesian energy materials of biofuel and coal in Indonesia. Using its experienced network in Indonesia, Jatenergy will complement its services with the marketing of energy material upgrade technology. Already Jatenergy has a coal upgrading technology called Coal Plus which is being marketed globally particularly Indonesia. There are a number of proven energy type technologies that Jatenergy is eager to market.
The government of Indonesia on January 12 started the implementation of the long-planned export on mineral ore products to encourage the domestic processing and refining of the raw minerals in a bid to generate greater value added from the commodities.
?Timing for Jatenergy to take up a TTG license for Indonesia is well considered as it covers four types of energy minerals Nickel, Copper, Manganese and Lithium processing,? Jatenergy ended.
Editing by Reiner Simanjuntak