EnviroGold Global has signed a binding definitive agreement to reprocess tailings at the Hellyer Gold Mine in Tasmania as part of a push towards metals without mining.
The Canadian clean technology company said it would reprocess tailings of 634,00 ounces of gold, 22.9 million ounces of silver and 419,000 tonnes of copper-lead-zinc.
The definitive agreement, which is part of EnviroGold Global’s move to accelerate “the world’s transition to a circular-resource economy through the production of metals without mining”, comes after the company signed a memorandum of understanding with Hellyer Gold Mines in November 2021.
“The execution of the definitive agreement … represents the achievement of a strategic milestone for EnviroGold Global on our journey to producing precious, critical and strategic metals at seven major projects by 2025,” EnviroGold Global chief executive officer Mark Thorpe said.
“We are pleased to continue to deliver on our commitments to our shareholders and stakeholders while establishing circular-economy leadership through the production of metals without mining.
“We look forward to announcing the execution of additional major growth catalysts in the near term, including finalisation of project financing negotiations for the Hellyer Tailings Project.”
According to EnviroGold Global, the definitive agreement provides for a multi-stage tailings reprocessing project in which the company will add its mineral processing technology to the Hellyer Gold Mine, with EnviroGold Global’s metallurgical solution driving significantly increased metal recovery rates at the mine.
The push towards greener mining and extracting metals from hard rock ore without digging has gathered pace in recent years, as increasing stakeholder pressure has pushed the industry to re-think its approaches to environmental, social and governance (ESG) responsibilities.