Orbite Begins Construction at its High Purity Alumina Production Facility
August 6, 2014 (Source: Marketwired) — Orbite Aluminae Inc. (TSX:ORT) (OTCQX:EORBF) (“Orbite” or the “Company”) announced today that it has commenced construction activities at its high purity alumina (HPA) production facility in Cap-Chat, Québec.
This first phase of construction entails the structural reinforcement of the HPA building structure required for the subsequent installation of the Outotec calcination equipment. The contract was awarded to a contractor from the Gaspe region in Québec, Atelier de Soudure Gilles Roy.
“Following more than six months of design review and detailed engineering, we are pleased to begin this final phase of construction at our HPA facility,” said Denis Arguin, Orbite’s VP of Engineering and Operations. “The site has been prepped for construction and our construction management team is in place and operational. We look forward to driving towards commissioning and start-up of the facility according to our timetable.”
Orbite is presently evaluating bids for both refractory installation and mechanical installation and expects to award these contracts over the coming weeks.
Orbite Aluminae Inc. is a Canadian cleantech company whose innovative and proprietary processes are expected to produce alumina and other high-value by-products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, and in a sustainable fashion, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently finalizing its first commercial high purity alumina (HPA) production plant in Cap-Chat, Québec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallée deposit. The Company’s intellectual property portfolio contains 16 intellectual property families, and the Company owns the intellectual property rights to 11 patents and 72 pending patent applications in 10 different countries. The first intellectual property family is patented in Canada, USA, Australia, China, and Russia.
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Certain information contained in this document may include “forward-looking information”. Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management’s good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management’s Discussion and Analysis (MD&A) entitled “Risk and Uncertainties” as filed on July 30, 2014 on SEDAR.
The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>