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CANADA-based NanoStruck Technologies Inc has signed a non-binding letter of intent (LOI) with Purple Grid Trading, a Zimbabwean company offering financed solutions for infrastructure development in the energy, mining and construction industries.
Purple Grid is focused on using NanoStruck’s technology for extracting gold from refractory gold tailings. NanoStruck will receive 50 percent of all revenue realised from the projects.
Under the LOI Purple Grid Trading agreed to cooperate with NanoStruck for the purpose of utilising the company’s NanoMet technology to extract gold and other precious metals from the tailings that arise from mining projects accessed or owned by the company.
Purple Grid executive chairman John Mapondera said: “The preliminary NanoMet test results show the potential for significant recovery of precious metals from tailings which will give us a novel nano-technology solution with a strong competitive edge.”
Bundeep Singh Rangar, interim CEO and Chairman of the Board said: “This is a great opportunity for NanoStruck to demonstrate its unique technology and expertise in one of Africa’s important mining economies. This large win for us really demonstrates the immense opportunity present for the NanoMet division.”
The LOI also provides that the formal agreement shall contain mutually acceptable licensing fees and technology cost provisions.
NanoStruck Technologies has a suite of technologies that remove molecular sized particles using patented absorptive organic polymers.
These versatile biomaterials are derived from crustacean shells or plant fibres, depending on requirements of their usage. Acting as molecular sponges, the nanometer-sized polymers are custom programmed to absorb specific particles for remediation or retrieval purposes.
These could be to clean out acids, hydrocarbons, pathogens, oils and toxins in water via its NanoPure solutions or to recover precious metal particles in mine tailings, such as gold, silver, platinum, palladium and rhodium using the Company’s NanoMet solutions.
By using patented modifications to conventional technologies and adding polymer-based nano-filtration, the company offers environmentally safe NanoPure solutions for water purification.
Online Reporter