- Mineworx Technologies Ltd (MWX) has begun procuring the major components for the first module of the commercial plant in Tennessee
- It is focused on the extraction of platinum and palladium from diesel catalytic converters
- Module 1 is the first stage that will process diesel catalytic converters supplied by Davis Recycling Inc.
- Module 1 to have a minimum processing capacity of 2.5 tonnes per day
- The company is expecting the plant to begin operating by the end of this year
- Mineworx Technologies Ltd (MWX) is unchanged trading at $0.03 per share as of 3:10 P.M. ET
Mineworx Technologies (MWX) has begun procuring the major components for the first module of the commercial plant in Tennessee.
Mineworx is focused on the extraction of platinum and palladium from diesel catalytic converters.
According to the company, Module 1 is the first stage of the planned commercial facility that will process diesel catalytic converters supplied by its partner, Davis Recycling Inc.
The company expects Module 1 to have a minimum processing capacity of 2.5 tonnes per day. Contingent on its successful operation, Mineworx expects to project to enter the revenue generation phase of business.
Module 1 will serve as the template for additional modules for the buildup in attaining a minimum processing capacity of 10 tonnes per day per facility.
Mineworx expects the module’s projected timeline will be operational by the end of this year by utilizing the expected proceeds of the previously announced rights offering.
“We are pleased that the design process has advanced to the stage that allows us to commence the purchase of major components…This is obviously a very exciting time for the company and its shareholders, and we all look forward to 2023 being our breakout year for business development and corporate growth,” Greg Pendura, President, and CEO of Mineworx, said.
Mineworx Technologies Ltd (MWX) is unchanged trading at $0.03 per share as of 3:10 P.M. ET.