THETFORD
MINES, QC, July 13, 2023 /CNW/ - Mazarin Inc. (MAZ.H)
and its subsidiary, Asbestos Corporation Limited (AB.H), announce
the acquisition by Asbestos Corporation of an industrial
demonstration plant, located in Thetford
Mines, from Dundee Sustainable Technologies. The transaction
is in the order of $850,000. The
objective is to support and accelerate the development of advanced
technologies of our current and future partners for mineral
processing and the valorization of critical and strategic
metals.
The rehabilitation of the railway section connecting
Charny to Thetford Mines, a major project announced by
the Government of Quebec and
funded with $440 million, was of
crucial importance in our decision-making process. This initiative
indeed represents a significant step that brings considerable value
to our existing resources.
The plant we have just acquired has hydrometallurgical,
pyrometallurgical, grinding and crushing facilities having a
nominal capacity up to 5,000 tons per year. It also validates
whether the process is compatible with continuous operation, in
addition to facilitating the development of safe, ecological,
efficient and sustainable metallurgical processes, adapted to the
specific needs of each project.
"With these facilities, we will be able to enable our partners
to conduct comprehensive demonstration campaigns at our mine site,
providing tangible evidence of the effectiveness of their
metallurgical processes and their applicability at scales closer to
real-world conditions. This will enable our customers and partners
to visualize and evaluate results in a concrete way, accelerating
the adoption of innovative solutions in the industry, faster and at
a lower cost." said Mr. Guy Bérard, President of both
corporations.
Mazarin Inc. and Asbestos Corporation Limited are two natural
resource companies whose focus in on the development of industrial
minerals in order to provide value-added products that meet the
criteria of customers worldwide with regard to performance and
economic and ecological concerns. Mazarin's shares trade on the NEX
Board of TSX Venture Exchange under the stock symbol MAZ.H.
Asbestos Corporation Limited's shares trade on the NEX Board of TSX
Venture Exchange under the stock symbol AB.H.
FORWARD-LOOKING STATEMENTS: This press release contains
forward-looking statements that address future events and
conditions, which are subject to various risks and uncertainties.
Actual results could differ materially from those anticipated in
such forward-looking statements as a result of numerous factors,
some of which may be beyond the Corporation's control. These
factors include: general market and industry conditions, risks
related to commissioning, to continuous operations and to
commercialization of new technologies and other risks disclosed in
the Corporation's filings with Canadian Securities
Administrators.
Forward-looking statements are based on the expectations and
opinions of the Corporation's management as of the date of this
press release. The assumptions used in the preparation of such
statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The Corporation
does not undertake any obligation to update such forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Société Asbestos Ltée