Ganfeng Lithium plans to build a $1.1 Billion trading desk
Derivatives will be used to lower the risks of cross-border investments and to enhance financial stability, the Chinese producer said.
Following its recent announcement of a partnership with Purlucid Treatment Solutions, Vancouver-based MGX Minerals (CSE: XMG) said today that it is moving forward with its third petrolithium and advanced wastewater treatment system to recover lithium from brine.
In detail, MGX said that the manufacturing of nano-filtration membrane housing is underway and primary nano-flotation, piping, and structural components are expected to commence fabrication in the second half of November.
In a media statement, the company said the system will be capable of processing 20m3/h and used to treat one-through steam generator or OTSG boiler blowdown brine. MGX said that OTSG represents the largest water loss at steam assisted gravity drainage facilities, known as SAGD. “The system will treat water suitable for reuse, saving the majority of water loss and greatly reducing both the complexity and cost for new and expansion SAGD projects.”
At the moment, MGX plans to deploy the system in Alberta. However, the firm doesn’t rule out the possibility of deploying it to its western United States or South American lithium brine projects. Such a move would depend on the economics and advancement of those projects over the next few months.
According to MGX, the technology is capable of extracting lithium and other elements very quickly from petrolithium or oil and gas wastewater, natural brine and other brine sources such as lithium-rich mine and industrial plant wastewater. This reduces the physical footprint and investment in large, multi-phase, lake-sized, lined evaporation ponds. The miner says it also enhances the quality of extraction and recovery across a complex range of brines.
