EnviroGold Global Limited says it has identified a target market opportunity that could exceed $10 billion for its tailings reprocessing business line as part of a five-year plan for accelerated growth.
In line with its strategy of remediating and reducing the environmental footprint of mine waste and tailings, EnviroGold Global says it is continuing to target tailings reprocessing opportunities where there is potential for the company to process tailings volumes exceeding 1 Mt with a gross recoverable value of no less than $100/t.
“The total addressable market for the tailings reprocessing industry is massive,” EnviroGold said. “There is an estimated 282.5 billion tonnes of tailings currently sitting on the Earth’s surface with an additional 12.7 billion tonnes of tailings produced annually.”
The value of precious, critical and strategic metals contained in mine tailings is estimated to exceed $3.4 trillion (total addressable market) with over $370 billion of tailings metal content in the company’s expected serviceable and obtainable markets, the company said.
“Further market segmentation undertaken by the company, including internal research, has identified a target market opportunity that could exceed $10 billion,” the company added. “The acquisition and development of the target market opportunities into high-value metal production projects forms the basis of the company’s five-year growth strategy.”
EnviroGold Global says it has one major project under contract, three major projects subject to MoUs, is negotiating commercial terms on two additional major projects and is conducting advanced analysis on three qualified major project opportunities, it said.
“The company expects to leverage its rapid analysis capabilities, its innovative profit share business model, and its scalable, modular approach to project development to acquire and develop nine major projects by 2025 with seven of the nine projects in commercial metal production by this time,” the company added.
One of these opportunities is at the Buchans Project, which includes approximately 1,225 ha of mining claims located in the Canadian Province of Newfoundland and Labrador. Consistent with the company’s strategy of reclaiming valuable and strategic commodities while remediating legacy and other environmental hazards, EnviroGold Global anticipates commissioning recovery and clean-up operations in 2022.
EnviroGold Global says it will deploy proprietary modular, scalable reclamation technology and systems designed to remediate the legacy tailings while removing environmental contaminants and reclaiming valuable commodities. The company expects the reclamation technology & systems to be deployed will be designed with the capacity to process up to 1,000 t/d of the reclaimed tailings.