Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canadian clean tech company Orbite Aluminae has developed a patented technology that can treat red mud, the most significant waste product of the traditional Bayer process for aluminium production. The company says it “offers the only ecologically sound and commercially viable alternative to manage and eliminate these toxic residues.” Orbite’s technology converts red mud into a dry, inert, and most importantly, environmentally neutral residue that is less than 90% the volume of its original state. High commercial value products are also recuperated in this process, including alumina (which can make up 25% of red mud), ultra-pure hematite (which is what gives the toxic residue its red colour) and magnesium oxide, as well as rare metal oxides that can have significant residual economic value. (more…)
