ASX-listed metals & mining sector group Avenira Limited (ASX: AEV) today provided an update on United States-based company JDCPhosphate, Inc in which Avenira owns 7% interest.
JDCPhosphate has announced that it is moving to commercialise its proprietary technology and changing its name to Novaphos Inc. The company is focused on the development of a potentially proprietary high-quality super-phosphoric acid production technology, called Novaphos, formerly called IHP.
The Novaphos technology enables sustainable production of high-quality superphosphoric acid using low-quality phosphate rock without creating phosphogypsum waste. Novaphos’
The oxidation and carbo-thermal process of Novaphos has the capability to recover phosphate from low-quality phosphate sources and avoid direct acidulation of phosphate rock, thereby minimizing the amount of waste and completely avoiding production of phosphogypsum. The company told that the Novaphos process co-produces solid balls from which phosphate has been extracted during processing, a commercially useful aggregate for construction and road building called J-Rox.
Managing Director of Avenira, Louis Calvarin stated that “Avenira is excited to see the very strong results announced today by Novaphos. The recent Novaphos achievements represent very promising next-step development opportunities for Avenira’s Wonarah project in Australia as well as at its Baobab project in Senegal, and will factor in its strategic plans.”
Avenira hold exclusive license rights to use Novaphos technology in Australia and Senegal where it has two key phosphate projects Wonarah in Australia and Baobab in Senegal.
During the March 2019 quarter, Novaphos made additional improvements to its technology, further enhancing its efficiency and reliability as well as building on recent achievements at its demonstration plant in Fort Meade, Florida.
Currently, the Novaphos technology is attainting phosphate yields of approximately 80% and significant improvement in the acid quality with impurities at about 2% of SPA-equivalent acid, with substantial potential for further enhancement at commercial scale.
Going forward, Novaphos intends to keep running its demonstration plan only with the use of low-quality phosphate rock tailings, containing an average of about 14 percent phosphate as P2O5, with high-levels of silica and other impurities, including magnesium.
The report read that Novaphos has moved to the process of commercialization for Novaphos technology by initiating engagement arrangements with major phosphate producers and engineering companies.
Avenira Limited is listed under a metal and mining sector focused on the mining and development of phosphate. Its principal assets include 100% owned Wonarah Phosphate Project in the Northern Territory, Australia and 80% owned Baobab Phosphate Project located in Senegal, West Africa. Positioned as one of the largest known phosphate deposits in Australia, Wonarah Phosphate Project forms part of the company’s long-term strategy backed by the IHP process.
AEV stock has been uplifted by 35.714% or $0.005 to close at $0.019 on 9 April 2019.
Over the past 12 months, AEV has declined by 50.00%, including a negative price change of 26.32% in the past three months.
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