Dow Signs consulting and supply agreement with Metals Finance Limited
Edina, MN – April 27, 2012 – The Dow Chemical Company (NYSE: DOW) today announced that it has signed a consulting and supply agreement with Metals Finance Limited (ASX code MFC), of Queensland, Australia. Metal Finance Limited (MFC) provides financing and production services to small to medium sized mining and mineral companies. MFC’s Lucky Break nickel project in Queensland will be used as the pilot for identifying process improvements which may be applicable to the treatment of nickel laterite projects on a global basis.
As part of the agreement, Dow Water & Process Solutions, a business unit of The Dow Chemical Company, will provide expertise, technical and process engineering support for the use of its Ion Exchange Resin (IER) PLS separations technology at the Lucky Break ore site. The effort may also cover other lateritic nickel projects that MFC develops in the future, including the Barnes Hill project in Tasmania.
“We are pleased to team with MFC to develop value creating solutions for the mining industry,” said Yulee Newsome, global business development manager, Dow Water & Process Solutions. “Dow is committed to innovation, and Dow continues this commitment by providing advanced IER PLS separation technology that allows our customers to develop answers for mining challenges while improving their bottom line.”
Tony Treasure, managing director, MFC, said, “We understand the significant cost benefits that can be achieved by using Dow’s ion exchange resin technology compared with other traditional means of metal recovery. The technology is a key component in the novel flow sheet approach being taken by MFC to develop Lucky Break.”
“We are proud to team with Dow for enhanced development of metal recovery processes. This agreement is the first step in developing a long-term, strategic relationship between MFC and Dow. We have been working closely with Dow for some time now on project feasibility studies including Lucky Break and the Palabora nickel sulphate project in South Africa,” said Treasure.
MFC has an agreement with Metallica Minerals Ltd, the owner of the Lucky Break tenements west of Townsville, Queensland, Australia to determine the feasibility of operating the mine and associated processing plant. MFC has detailed the engineering work, found sources for the equipment and is seeking to secure funding. The Lucky Break nickel project could be in full production within a year of receiving approval.
About Metals Finance Limited
Metals Finance develops mineral assets in partnership with other exploration and mining companies, rather than purchasing them. MFC applies the deep experience of its executives, board and consultants on geologically defined resources to establish appropriate treatment processes, to undertake detailed feasibility studies and to operate projects. It is currently working with two ASX-listed partners at Lucky Break in Queensland and Barnes Hill in Tasmania. MFC is also seeking new opportunities, and is reviewing the development of gold and nickel projects in South America and Europe.
About Dow Water & Process Solutions
The global leader in sustainable separation and purification technology, Dow Water & Process Solutions is making a clear impact in the world. We’re helping to make water safer and more accessible, food taste better, pharmaceuticals more effective and industries more efficient and spearheading the development of sustainable technologies that integrate water and energy requirements. Dow Water & Process Solutions offers a broad portfolio of ion exchange resins, reverse osmosis membranes, ultrafiltration membranes and electrodeionization products, with strong positions in a number of major application areas, including industrial and municipal water, industrial processes, pharmaceuticals, power, residential water and waste and water reuse. More information about Dow Water & Process Solutions can be found at www.dowwaterandprocess.com
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company's more than 5,000 products are manufactured at 197 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.