KWG RESOURCES FILES NATURAL RESOURCES CANADA CHROMITE RESEAR
KWG Resources files Canadian chromite R&D reports
2022-05-02 10:16 ET - News Release
Ms. Megan McElwain reports
KWG RESOURCES FILES NATURAL RESOURCES CANADA CHROMITE RESEARCH REPORT
KWG Resources Inc. has received and filed as a notice of material change on its SEDAR profile, a copy of the Canadian Chromite R&D Initiative Chapter 1.1, Chromite R&D Initiative -- Background, Objectives, Approach and Summary of Accomplishments, dated January, 2022, and Canadian Chromite R&D Initiative Chapter 3.2.1, Direct Reduction of Chromite Conceptual Approach and Overview, dated September, 2021.
The two reports issued by Natural Resources Canada's renowned CanmetMining division, 555 Booth St., Ottawa, Ont., K1A 0G1, comment directly and very favourably on the results of research into the principal aspects of the direct reduction method to beneficiate chromite, patented by KWG with additional technology patented by CanmetMining under the leadership of acclaimed metallurgical scientist Dr. Dogan Paktunc. The research results suggest that the patented method may achieve 30-per-cent lower cost when compared with other methods currently employed, plus a reduced carbon footprint of 55 per cent or more, plus a secondary byproduct production stream of refractory material with significant market value to contribute to process revenues and concomitant further production cost reduction and efficiencies. This process has potential to meaningfully enhance the economic viability of the Ring of Fire.
As part of Canada's recently announced critical minerals strategy, CanmetMining has committed to financing for a further two-year research program to prepare for scaling up the direct reduction process in advance of piloting for commercialization. The entire chromite R&D (research and development) initiative research report is being translated for filing on the website of the Canadian Geological Survey.
"This is a most tremendously encouraging development, for Canada's crucial role in contributing to North American supply chain and strategic security in its capacity to make stainless steels," said KWG president Megan McElwain. "It is wonderful to have Natural Resources Canada prove the genius of the late Frank Winter, a melt shop virtuoso. We are sorry he left us before he could celebrate his very important scientific breakthrough."
About KWG Resources Inc.
KWG is the operator of the Black Horse chromite project after acquiring a vested 50-per-cent interest through Bold Ventures Inc., which is carried for 10 per cent (20 per cent of KWG's equity in the joint venture) by KWG financing all exploration expenditures. KWG holds a 50-per-cent vested interest in the McFaulds Lake copper/zinc project and a vested 30-per-cent interest in the Big Daddy chromite project. KWG also owns 100 per cent of CCC, which staked mining claims between Aroland, Ont. (near Nakina), and the Ring of Fire. CCC has conducted a surveying and soil testing program to assess the prospects for the engineering and construction of a railway along that route between the Ring of Fire and Aroland, Ont. CCC engaged Cormorant Utilities and Rail-Veyor Technologies for engineering proposals for the construction of a transportation and utility corridor within the route and has received those proposals. KWG has also acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP has acquired two chromite-refining patents in Canada and one in the United States and in South Africa and is prosecuting an application in Turkey.