Fulcrum Metals has taken a meaningful step towards turning its cyanide-free metal recovery technology into a commercial reality, signing a contract to deploy a pilot plant in Ontario.
It’s been a long time coming, but they are nearly there.
The AIM-listed group, which uses technology developed by Extrakt Process Solutions to extract precious and critical metals from old mine waste, said its subsidiary, Fulcrum EnviroTech, has tapped Test Design Implement Solutions to build and operate the plant.
The facility will process material from Fulcrum’s Teck-Hughes project and, just as importantly, will be able to test third-party mine waste too. Engineering heavyweight Bechtel, which has a long-term alliance with Extrakt, is backing the programme.
The plant itself is modest in scale, with a capacity of just 2.4 tonnes a day. But this plant is about generating the operational, metallurgical and engineering data needed to support a full commercial development down the line.
Fulcrum has also kept the structure capital-light, accessing the technology and expertise it needs without investing in heavy infrastructure.
Ryan Mee, Chief Executive Officer of Fulcrum Metals, said: “This is a significant milestone for Fulcrum which creates a pathway to commercialising Teck-Hughes while establishing a platform that is able to support future mine waste recovery opportunities.”
“Fulcrum is excited to be working with TDI, Extrakt and Bechtel on this next phase of the project, which represents an important step towards unlocking significant value from historic mine waste assets through a scalable and capital-efficient business model.”