- Parkway Minerals (PWN) has signed a three-year global agreement to commercialise the aMES technology, with a subsidiary of the Worley Group
- This agreement provides Parkway with engineering, procurement and construction support, to help commercialise the aMES technology
- The Activated Mineral Extraction System is an innovative process technology that can treat concentrated brine solutions to recover valuable minerals, reagents and fresh water
- The parties will nominate joint projects that could potentially benefit from aMES
- Parkway has already put forward a number of advanced-stage third-party projects for evaluation
- On market close, Parkway Minerals is up 100 per cent and is selling shares for 1¢ each
Parkway Minerals (PWN) has signed a three-year global strategic cooperation agreement to commercialise the aMES technology.
Activated Mineral Extraction System (aMES) is an innovative process technology that can treat concentrated brine solutions to recover a range of valuable minerals, reagents and fresh water.
This agreement provides Parkway with engineering, procurement and construction support, to help commercialise the aMES technology.
The other party of the agreement is unnamed however the company did say it was a subsidiary of the Worley Group.
The parties will nominate joint projects that could potentially benefit from the use of aMES. Once they find a joint project, they will collaborate exclusively.
Parkway has already put forward a number of advanced-stage third-party projects for evaluation. Some of these projects have undergone substantial process evaluation and are operated by globally significant mining companies.
“Despite current global economic disruptions, the drivers for increased efficiency, reduced waste and improved sustainability, particularly in extractive industries like mining, continue to present significant challenges and likely to become even more pressing, as environmental social governance (ESG) principles are adopted more widely, over time,” Managing Director Bahay Ozcakmak said.
Under the agreement, Parkway will retain all preliminary evaluation and upfront licensing fees, with recurring licensing fees, and other revenues/margins, shared by the parties on a predetermined basis.
“The agreement announced today is another important step on our journey towards achieving our vision of transforming global brine processing methods, through innovative technology, in order to improve sustainability and create value,” Bahay said.
“Given our aspirations to leverage our ownership of the aMES™ technology platform, to build a technology leveraged resources company. Collaborative discussions between the parties have been underway for some time, with several potential project opportunities already identified,” he added.
On market close, Parkway Minerals is up 100 per cent and is selling shares for 1¢ each.