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A MULTI PHASE RECLAMATION PROJECT WITH COMMODITY RECOVERY:
Recovering Value from a Chemical Processing Waste
by Wastes Ecotech Srl (WET), Tarnaveni, Mures County, Romania
Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7 1 08/03/2019
MgO Mures County
Bucharest
Cr2O3
CaCl2
NH3
Target Waste Material 1.95m m3 3,5m t
45% vol reduction
Commodities
Final Waste
Material
CONFIDENTIALITY AND DISCLAIMER STATEMENTS This document is strictly confidential and may be legally privileged. It is intended solely to be received by the person(s) or organisation(s) to whom it is addressed. If you are not the intended recipient of this document retaining, using, disseminating, distributing, copying or taking any actions in reliance upon any information or documents contained in it is strictly
prohibited and will constitute a breach of confidentiality. If you have received this document(s) in error, please immediately inform the owner : Wastes Ecotech Srl – [email protected] and delete it.
Denotes a CONTROLLED document
Former State Owned Fine Chemical (multiple) production site – operating from
1916 – 2006
1916 – 1922 - Gases & explosives 1922-1948 - Nitrates & fertilisers 1939- 1948 - Ceramics, Gold, Silver, Copper and Lead refining 1950 – 1975 - Bichromate 1 (built 1959-1955) & closed 1978 1968 – 1986 – Zinc Oxides, Barium salts, Formic & Hydrofluoric acid, Creolite,
Freon 11 & 12 1971 - 2006 - Bichromate 2 (built 1971 – 1972) WSF built at the same time
Located in Mures County, central Romania. Assets purchased (130ha site) via public auction in Oct 2012. 3 years spent uniting the 110 land parcels – separation into new plots ongoing All plant has been demolished. Clean up of demolition wastes ongoing. 100% private ownership & unencumbered. No Royalties apply to the Project Phase 1.
08/03/2019 2
History of Site / Current Ownership
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1
Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
08/03/2019 3
Background Dichromate Process
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
Chromite ore is roasted
4FeCr2O4 + 8Na2CO3 + 7O2 → 8Na2CrO4 + 2Fe2O3 + 8CO2
Lime is also added to ensure the products do not agglomerate
However, at Bicapa a local Mg rich dolomite was utilised
Soluble chromium salts are then mobilised and further refined by either:
2Na2CrO4 + 2CO2 + H2O → Na2Cr2O7 + 2NaHCO3 or
2Na2CrO4 + H2SO4 + 2O2 → Na2Cr2O7 + Na2SO4 + H2O
Wastes are in the form of insoluble components such as iron, aluminium, calcium, magnesium and silicon oxides or hydroxides
Target Asset for this project : 1.95m m3 of Sodium Dichromate Waste Tailings (“COPR”) - Chromium Ore Processing Residue – stored in 2 purpose built Waste Storage Facilities (WSF) 18.7 ha (510 x 320m & ave. height @ 12m)
COPR contains Hexavalent Chrome (Cr6+) hence the asset has a environmental liability (on an RO/EU watch list) > previously resulted in caution from others when wanting to deal with the site. Options for the site are : Cap WSF (Do “nothing” approach) > risk remains > costs estimated at EUR
20m Reprocessing, Reclaim and Monetise (WET option).
BENEFITS : from this novel approach of remediation through reprocessing.
• Monetisation of the remaining minerals. • Eliminates the contaminant materials – inert waste returned to WSF • Reduces the volume by 48% & mass by 76% • Providing a fully EU compliant revamped WSF (dangerous wastes) • Provides long term employment for up to 360 direct FTE’s
08/03/2019 4
The Asset
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3
Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
Environmental Remediation Project
Project consists of a 2 phase approach :
Phase 1 (years 1-9) > Environmental remediation of cca. 3.5m tonnes (1.95m m3) of COPR on fully
owned company property. Project involves reprocessing the stored wastes and extracting the minerals
as Chrome Oxide Green, Fused Magnesia, Calcium Chloride and Liquid Ammonia (as a by-product).
Phase 1 has followed the JORC reporting method which will result in a JORC 2012 format report expected end April 2019.
Based on 100% debt finance…i.e. for the exercise no new equity has been assumed
Environmental topic resolved via reprocessing of waste, conversion of Chrome 6 > Chrome 3 and renovation of the Waste Storage Facility over Phase 1 project life.
Strong local and federal government support for the project.
08/03/2019 5
Short Project Introduction
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
4
Phase 2 (years 10-20) Continue processing locally sourced micronized dolomite into the existing
plant (minor mods req’d) post reprocessing to produce FM or MgO (only). All required plant will be in place from Phase 1 – assumed FM output of 3,85
t/hr on a 24/7 & 330 day yr. basis. Project Plan assumes additional 11 year processing life but 20 + year plant
life is possible. Additional Phase 2 EBIT of cca. 250m USD for the period with flat product
pricing but inflation adjusted OPEX. Continued employment for 85% of staff. Keep paid for assets working.
NB – Pinch analysis and detailed design still to be done on Project Phase 1&2
hence costs are not as yet optimised.
08/03/2019 6
Short Project Introduction
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
5
Approach and Status
WET followed the JORC Reporting path to obtain a Certified JORC 2012 Report based on Estimated Resource, Probable Reserve. Inferred JORC obtained in 2014 Current work aimed at upgrade to Estimated – Bankable Feasibility
Study
Drilled 50 x 50m grid (72 holes) and at 1m intervals (902 samples to ACME Vancouver for assaying).
3D modelled the resource. Pilot work done over past 5 years on simple pilot plant on site BFD for plant design including 3D layout completed. Excavation (“Mining”) planning done – to month by month level. TEM (Techno Economic Model) done. Urbanism Certificate in place. EIA submittal will be done end March 2019
08/03/2019 7
Short Project Introduction
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
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08/03/2019 8
Drill hole locations - WSF
Project Summary - Key Financials
Exploratory drill holes only. Not in model
WSF Nr 1
WSF Nr 3
WSF Nr 2
WSF denotes Waste Storage Facility
(Batal in Romanian) Project includes :
WSF 2&3 - 18.7 ha
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
A B
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Project Site Plan - WSF & Plant
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Wastes Ecotech Srl – Project Presentation Update Dec 2018 – v6
8
N
Plansa Nr.
Faza
SF
Beneficiar:
SC WASTES ECOTECHSRL BUCURESTI
Scara Proiect de inchidere dupa post utilizare la nivel de studiu de fezabilitate
1:2000 (SF) pentru batalurile de deseuri nr. 1, 2, 3 si a batalului rezultat dupaprocesare - Bicapa - Tarnaveni
PLANDEAMPLASARE VARIANTA V_6
REVIZIE APRILIE 2018
S.C. GEOCONS EXPERT PROIECT S.R.L
BUCURESTI
Ing.Vlad Radulescu
Numele Semnatura
Proiectat Ing. Andronache I.
Desenat Ing. Andronache I.
Verificat Ing. V lad Radulescu
Aprobat Ing. Luca Daniela
Data
04.2018
Fila1/2
Tabel 1 - Cladiri
Tabel 2 - Drumuri de incinta, exterioare si parcari
Tabel 3 - Platforme betonate, piatra sparta si spatii tehnologice
Tabel 4 - Constructii Industriale
WSF 2&3
WSF 1
Coffer Dam line
Logistics Sites
Admin
Process Site
WET Dam site
Clear zones = WET property
(eg)
08/03/2019 10
Project Site Plan - WSF & Plant
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
9
N
DESCRIPTION Nume Semnat Nume Semnat Nume Semnat Nume SemnatDES/DESENAT BY/PROIECTAT CHK'D/VERIFICAT APP'D/APROBAT
REV.
0
0 15.10.2018
REV. DATE/DATA
SHEET/FILA
1/1
DWG. NUMBER/NUMAR DESEN
WET-1604-MIN-001
C.C. D.R. I.P. D.R.
Name Signed Name Signed Name Signed Name Signed
DWG'S LEGAL OWNER/PROPIETAR LEGAL DESEN
ALCONEX METROLOGY & SERVICES S.R.L.
SCALE/SCARA
1:1000
WET MINING PLAN
FINAL WASTE MATERIAL(FWM)
FOR REWIEW
WASTES ECOTECH S.R.L.
CONVEYOR LENGHTS
C1=29.5 m
C2=59.5 m
C3=103.5 m
C4=107.8 m
C5=55.4 m
C6=103.5 m
C7=107.8 m
C8=136.4 m
C9=103.5 m
C10=107.8 m
HAUL ROADS
A=2292 m2 A=327 mB=2350 m2 B=336 m
C=2180 m2 C=311 m
Haul road
08/03/2019 11
Trenching locations – post DPT work
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
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T 5
T 3
T 1
T 4
T 2
T1-5 ARE TRENCHES FROM JAN 22 2019
08/03/2019 12
Trenching Exercise
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
11
Original Angle of repose
Disturbed Angle of repose
Trench – 4,7 m
T3 T2
COPR
Clay Basal Layer
Working Face
35o
Hydrema
922F
JCB JS160
10m Haul
Road
JCB 457
For the JCB JS160 assuming a cycle time of 40 seconds and a
bucket size of 0.85m3.
Assuming 85% utilisation of a 9 hour shift and that the
excavator can move waste for 90% of the time, 10% to allow
for repositionable movements, then the JS160 can move (0.85
x 3600 x 90% / 40) m3/hr or 69 m3/hr. And 527 m3 in a shift.
The Hydrema 922F has a payload capacity of 12m3, therefore
need 5.7 trucks per hour and 10min 30sec turnaround time.
Pre-Excavation Works – Haul Road A 12
Long Term Face
26o
08/03/2019 13
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
Clay Basal Layer
Rented
LRE
Hydrema
922F
10m Haul
Road
JCB 457
Hitachi ZX670 LRE has a cycle time of 40 seconds, from
YouTube video
Assuming 85% utilisation of a 9 hour shift and that the
excavator can move waste for 90% of the time, 10% to allow
for repositionable movements, then the ZX670 can move (3
x 3600 x 90% / 40) m3/hr or 243 m3/hr. And 1,859 m3 in a
shift.
The Hydrema 922F has a payload capacity of 12m3,
therefore need 20.3 trucks per hour and 3min turnaround
time.
35o
Face
Pre-Excavation Works – Haul Road A 13
COPR
Working Face
35o
Long Term Face
26o
08/03/2019 14
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
COPR
Clay Basal Layer
Rented
LRE
Working Face
35o
Hydrema
922F
10m Haul
Road
Long Term Face
26o
JCB 457
With both units working simultaneously
and assuming a split between the JS160
and the ZX670 of 5% and 95%,
respectively, the excavation would
require 25 shifts
Pre-Excavation Works – Haul Road A 14
35o
Face
08/03/2019 15
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
Clay Basal Layer
JCB JS160
10m Haul
Road
JCB 457
The JCB JS160 would also be used to clean the northern
perimeter dyke
Hydrema
922F
Level of N Perimeter
Dyke Level of N Perimeter
Dyke
Working Face
35o
Working Face
35o
Pre-Excavation Works – Haul Road A 15
08/03/2019 16
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
08/03/2019 17
Basal Layer Effectiveness
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 5 10 15
De
pth
(%
)
Cr2O3 (wt%)
F01F02F03F04F05F06F07F08F09F10
Clay base is effective barrier
Cr is mobilised within the WSF
08/03/2019 18
Basal Layer Effectiveness
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
08/03/2019 19
Mining Progress
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
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08/03/2019 20
WSF Images
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
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Original Clay Dyke Overfill Dyke (COPR)
08/03/2019 21
WSF Images
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
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08/03/2019 22
WSF Images
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
21
6m
08/03/2019 23
Key Project info
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
Key Financial Info - Impact on EBIT (Phase 1 only)
100
150
200
250
300
350
400
450
500
550
600
-20% -15% -10% -5% 0% 5% 10% 15% 20%
EBIT
USD
Mill
ion
Percent Variation
CAPEX OPEX Revenue MgO Cr2O3 CaCl2 NH4
Project Summary – Key Tech Points
Simple form of exploitation using Long Reach Excavators, Wheeled Loaders and low ground pressure dump trucks . “ Mining” study completed by Belevion (RO) Srl with review by SRK UK Ltd.
Automated return of Final Waste Material post processing via Portal Reclaimer, Conveyors & Tracked Stacker in WSF.
08/03/2019 24
Key Project info
Moveable Road matting to be used
where humidity may impede vehicle movement
HEPA Air Filters to be retrofitted to equipment in the work front (HSE)
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Wastes Ecotech Srl – Project Presentation Update Mar 2019– v7
Project Summary – Key Tech Points
All possible measures to be taken for site / environmental safety are planned. Dry misting water to suppress dust, remote monitoring stations, Phonic protections where needed. LGP type vehicles
Labour required 292 FTE Direct Plant, 28 FTE External contractors, 27 FTE Exploitation Contractors (“mining” planned to be outsourced) employed over a 10 year operating period. Expected 2:1 additional employment ratio for other support parties (further 714 FTE external supplier support). > Project will provide employment for Circa 1000 people (direct / indirect) when in full operation.
Environmental cost est. of USD32M over Life of Project (LOP) + post closure monitoring period (30 years). Post closure costs allowed for in TEM Phase 1.
Logistics, Admin and parts of the site post decontamination will be repurposed post closure.
08/03/2019 25
Key Project info
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
Project Summary – Salient talking Points
No mining required (all material above “ground” hence simple loader/truck exploitation) hence certified by ANMR (Romanian Mineral Resource Authority) as not under the RO mining law (no royalties).
WET process tech eliminates current environmental concerns (Cr6+) while producing multiple product streams. Appealing option by Local EPA / authorities vs std remediation. Full EIA submittal in June 2018, initial stage EIA visa received.
The Project has strong local / state authority support due to WET continued forward momentum and EU pressure on RO to clean up historical sites. Its profile benefits the level of support not normally seen on such projects.
Site utilities, road, rail and water infrastructure (WET owns a dam on the River) in place or at boundary
Provides significant long term employment
Presents itself as a model method for elimination of dangerous wastes.
Model is repeatable on other sites – but we have learnt some clear (and costly) lessons along the way.
EU needs to look harder at support methods to such projects.
08/03/2019 26
Key Project info
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
08/03/2019 27
Key Project info
Block Flow Diagram – prior to introduction of Fused Magnesia (FM) step. Presently being updated and initial development underway in a PFD.
Plant has multi product potential on Cr, MgO & Ca product streams with simple changes.
WET will look to submit for an applications Patent based around the the Cr module upgrade.
Data pack includes significant pre-feasibility engineering done
Significant Plant unit relocation possible post completion of the .
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7
08/03/2019 28
Full BFD Overview
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27
Wastes Ecotech Srl – Project Presentation Update Mar 2019– v7
PRODUS FINIT FP1
MgO
05010502
0503
0506
0504
Process Utilities Legend:
0501 - Preparation of Process Grade Water
0502 - Preparation of NH4OH (aq) Regenerant Solution
0503 - Preparation of HCl (aq) Activation Solution
0504 - Preparation of NH4Cl (aq) Reagent Solution
0505 - Preparation of Tehnical Grade Water
0506 - Recovery & Storage of CO2 (as gaseous CO2)
0507 - Preparation of Lime Solution
0508 - Recovery & Storage of NH3 (as liquid NH3)
0509 - Waste Water Treatment (W.W.T.)
0510 - Preparation of Demineralized Grade Water
0511 - Preparation of H2C2O4 (aq) Initiator Solution
" "" "" "" "
Notes:
Continuous Processes Line
Discontinuous Processes Line (batch type)
Discontinuous Processes Line (batch type)
Discontinuous Processes Line (batch type)
Abbreviations:''WSF'' - Waste Storage Facility
''FWS'' - Final Waste Storage
''IEX'' - Ion Exchange
''FP1'' - Finished Product 1
''FP2'' - Finished Product 2
''FP3'' - Finished Product 3
''BP1'' - By Product 1
''BP2'' - By Product 2
HCl 35% (l)
0506
Quick Lime (s)
NH4Cl (s)
IEX 3
IEX 1
IEX 2
IEX 4
CO2
H2O
CO2
H2O
CO2
H2O
CO2
H2O
H2O
H2O
1.1.21.1.1
1.2.11.2.2
2.1.3
2.1.4
2.2.4 2.2.3
3.2.7
3.2.8
3.2.10 3.2.9
5.2.145.2.16
6.1.10
6.1.11
6.2.176.2.18
7.2.22
7.2.20
8.2.23
8.2.24
8.2.26 8.2.25
9.2.28
9.2.29
11.2.33 11.2.30
12.2.34
12.2.35
16.2.47
16.2.48
16.2.49
17.2.52 17.2.51
18.2.54 18.2.53
19.2.58 19.2.56
20.2.61 20.2.60
21.2.62
21.2.63
19.2.58
10.2.6
17.2.51
20.2.60
8.2.26
18.2.53
5.2.1411.2.30
4.2.11
1.2.1
6.2.17
5.2.16
7.2.22
1.2.2
CO2
H2O
9.2.27
H2O 18.1.20
H2O4.1.6
H2O10.1.5
10.2.6 10.2.5
4.2.12 4.2.11
7.1.12
11.1.15
19.1.21
NH4OH (aq) 6%
NH4OH (aq) 6%
NH4OH (aq) 6%
HCl (aq) 3%
HCl (aq) 3%
HCl (aq) 3%
HCl (aq) 3%
5.1.7NH4OH (aq) 6%
5.1.8
7.1.13
11.1.16 11.1.17
19.1.22
5.2.13
7.2.19
11.2.31
19.2.55
H2O
19.1.23H2O
5.1.9 H2O
7.1.14 H2O
11.2.32
7.2.21
19.2.57
5.2.15
3.2.10
10.2.5
CO2
H2O
0211
0212
0416
0417
0418
0419
0420
0421
0101
0302
0303
0304
0305
0306
0307
0308
0310
0309
0213
0214
0215
13.2.36CO2 H2C2O413.1.18
13.2.38
14.2.43
15.2.46
13.2.37H2O
15.2.45H2O 15.2.44 CO2
14.2.39 CO2
0508
NH312.2.64
14.2.41 NH3
NH4Cl (aq) 17.1.19 NH317.2.50
20.1.24 NH320.2.59
14.2.40 N2
14.2.42 H2O
0505
River Tarnava Mica
0509
SOW - P01
SOW - P02
SOW - P04
SOW - P03
SOW - P05
LEGEND:
Plants Legend:
P01 - Crushing/Milling & Hydration
P02 - Fabrication of Cr2O3
P03 - Fabrication of MgO
P04 - Fabrication of CaCl2 Anhydrous
(CaCl2 x 2H2O; CaCl2 x 6H2O)
P05 - Process Utilities
12.2.64
12.2.34
14.2.40
14.2.39
14.2.41
14.2.42
17.2.50
20.2.59
0507
0511
H2C2O4 (s)
19.2.557.2.195.2.13
19.1.217.1.125.1.7
11.1.15
7.2.21 19.2.57
5.2.15
5.1.8
11.2.32
7.1.13 11.1.1619.1.22
11.1.17
19.1.23
16.2.48
1.1.1
2.1.4
10.1.5
3.2.8
4.1.6
5.1.9
6.1.11
8.2.23
8.2.24
6.1.10
2.1.3
9.2.28
9.2.27
3.2.7
21.2.62
20.1.24
16.2.47
7.1.14
11.2.31
18.1.20
13.2.37
13.1.18
1.1.2
17.1.19
16.2.48
0510DEMINERALIZED
GRADE WATER
Demineralized grade water
CO2
5.1.25
5.1.25
5.2.64 5.1.26
5.1.27
5.1.27
5.2.65
5.2.65
5.2.66
5.2.64
5.1.285.2.67 5.2.67
5.2.68 5.2.68
5.1.29
5.2.69
5.1.30
5.1.31
5.2.70
5.1.32
5.2.71
5.2.72
5.2.73
5.1.33
5.2.73
HYDRATION WSF
Water to
recirculation
WaterFeed
Filtrate Wet cake
Water to
recirculation
CONCENTRATION
MIXING
VACUUM HEATING
CALCINATION 3
FINISHED PRODUCT FP2
Cr2O3
CALCINATION 2
Calcinated cake
LEACHING - NH4Cl
Wet cake Filtrate
WASHING 3
Filtrate Final Waste
PURIFICATION CaCl2
Wet cakeFiltrate
Lime
CONCENTRATION
FINISHED PRODUCT FP3/3 (FP3/2; FP3/1)
CaCl2 Anhydrous
(CaCl2 x 2 H2O; CaCl2 x 6 H2O)
FWS
CARBONATION
FiltrateWet cake
WASHING 2
Wet cake Filtrate
PRECIPITATION 1
Filtrate Wet cake
WASHING 1
Filtrate Wet cake
RECARBONATION
Wet cake (Waste RC)Filtrate
PRECIPITATION 2
Wet cakeFiltrate
CALCINATION 1
Calcinated cake
BY - PRODUCT BP1
LIQUID NH3
NH3 RECOVERY
BY - PRODUCT BP2
AMMONIA WATERS
(NH4OH)
PROCESS GRADE
WATER
TEHNICAL GRADE
WATER
REGENERANT SOL.
PREPARATION
ACTIVATION SOL.
PREPARATION
NH4Cl (aq)
PREPARATION
INITIATOR
SOL. PREPARATION
W.W.T.
CO2 RECOVERY
CO2 STORAGE
CARBONATED
WATERS
QUICK LIME
PREPARATION
1:1 1/10 11
DWG'S LEGAL OWNER/PROPIETAR LEGAL DESEN SCALE/SCARA DWG. NUMBER/NUMAR DESEN SHEET/FILA REV.
WASTES ECOTECH S.R.L.
BLOCK FLOW DIAGRAM
WET WSF - REPROCESSING PLANT
WASTES ECOTECH S.R.L.
WET-1604-WRP-BFD-01_E
FOR REWIEW
REV.DATE /
DATADESCRIPTION /
DESCRIERE DRAFTED /
DESENATENGINEERED /
PROIECTAT
CHECKED /
VERIFICATAPPROVED /
APROBAT
11 09-2018 - I.Peleanu I.Peleanu D.Runciman
NAME /
NUME
NAME /
NUME
NAME /
NUME
NAME /
NUME
-
08/03/2019 29
Denotes a CONTROLLED document
Key Elements of TEM
• 100% debt finance basis for TEM • Discount rate of 7% • Assumed Int. rate of 9.92% on finance
(7% above USD LIBOR) • 15 year repayment of CAPEX • NO State Aid factored in • 30 year post completion funding
allowed for. • Full 4 months working capital assumed • 330 days / year operation (90%
efficiency assumed)
Wastes Ecotech Srl – Project Presentation Update Mar 2019– v7
Key Financial Elements
Phase 1 EBIT = 422m USD Phase 2 EBIT = 250m USD CAPEX = 148m USD Phase 1 IRR = 32% OPEX not yet optimised Assumes 100% debt finance Possibility / probability of State Aid
& EU funding
EMPLOYMENT for circa 360 FTE
Preliminary TEM Assessment 28
Upside Potential / Risks
08/03/2019 30
Project Status
Strong probability to access significant (30-50m EUR) State Aid due to Project nature, size and location (employment).
Access to EU Funding pool for environmental projects (est 22m EUR of works to be done)
Optimization will lower CAPEX & OPEX and improve returns
Additional / other Mineral recovery made possible (Ga/Fe)
•Delays (highly unlikely) on permitting – WET in advanced state already and project has high profile.
Upward pressure on local economy causes price / wage growth – WET allowed 2% compounding inflation (not usual in JORC reports).
Staffing availability locally. WET has assumed high automation
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Wastes Ecotech Srl – Project Presentation Update Mar 2019 – v7