Innovation Mining is set to revolutionize the gold extraction industry with a groundbreaking, non-toxic alternative to cyanide. The company claims its new solution matches cyanide’s gold recovery efficiency while eliminating its environmental and safety concerns.
“Ninety percent of the world’s gold is produced using cyanide, and there really is no alternative,” said Duane Nelson, CEO of Innovation Mining. “We made a discovery (in our Vancouver chemistry lab) of a particular formula that is now producing the same results as cyanide, same recoveries for the same price, but it’s non-toxic.”
The company has conducted thousands of tests on different ores, tailings and concentrates, with independent validation from SGS Labs in Vancouver confirming the new solution’s performance, Nelson said.
The potential economic benefits are also significant. The global cyanide market for gold mining is valued at approximately $2 billion annually, he explained.
Scalability has been a crucial focus for the company, as well. “We’ve gone from beaker to 1 kilo column test to 100 kilo column test to 250 kilo VAT leach tests. We’re not seeing any change in the chemical composition or degradation, or any changes in the recovery on scale,” Nelson said, highlighting the technology’s ability to scale in a commercial mining environment.
With an initial public offering scheduled for the second quarter of the year, Innovation Mining is positioning itself as a leader in sustainable mining solutions. “We think it’s time for a cleantech alternative … (and) we offer the only alternative to this $2 billion global problem,” the chief executive said.
Watch the full interview with Duane Nelson, CEO of Innovation Mining, above.
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