RAMBORA TECHNOLOGIES LIMITED 2002-06-05 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
Rambora Technologies Ltd (ASX:RBT) today announced that Magnesium
Investments Pty Ltd would take an option to licence what the company
considers is the world's most advanced technology for producing
magnesium. Canadian-based Alcan International Limited is one of the
world's major consumers of magnesium for alloying. The licence from
Alcan provides a new dehydration technology for Magnesium
Investments' planned Latrobe facility, reducing costs for magnesium
production.
Using this technology, Magnesium Investments is expected to produce
high-quality magnesium for the lowest capital costs and lowest
production costs in the world. Subject to shareholder approval,
Magnesium Investments is soon to become a fully-owned subsidiary of
Rambora Technologies Ltd, and holds the rights to the $600 million
Latrobe Magnesium Project.
The Latrobe Magnesium Project will pioneer a way of producing
magnesium from fly ash sourced from the adjacent Hazelwood power
station. Fly ash from Victoria's Latrobe Valley, a by-product of
brown coal combustion, is an extremely economical source of
magnesium, as it avoids the costs of mining and double handling. The
ash has a high magnesium content of up to 12 percent.
The agreement between Alcan and Magnesium Investments is expected to
deliver lower cost production by exploiting the new Alcan Dehydration
Technology (ADT) which allows an essential dehydration step in
magnesium production to be accomplished with far lower capital and
operating costs than other methods. Magnesium Investments will invest
$2.77 million to commercialise Alcan's patented technology.
Over the coming year, Magnesium Investments plans to design, build
and operate an ADT pilot plant. The anhydrous magnesium chloride this
plant produces can be fed into Alcan electrolytic cells, where
magnesium is extracted. Unlike older technologies, which release
significant amounts Of C02 into the atmosphere, the Latrobe Magnesium
facility will be a net consumer of C02.
"Clever design will result in a plant with a far greater energy
efficiency than current methods", said Mr Chris Sylvester, Chief
Executive Officer of Magnesium Investments. "This agreement is an
important milestone for us. In any business, savings like these
compound. Not only will we be producing high quality magnesium, as
demanded by customers, but the ADT process will give us an edge over
the rest of the market in terms of costs."
Enquiries: Chris Sylvester Renate Krelle
CEO, Magnesium Investments Monsoon Communications
(02) 9940-3707
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