Canada-based development stage company Nevada Zinc has reached a strategic alliance with BelZinc, a Belgian zinc producer.
Through the partnership, Nevada Zinc will use BelZinc’s zinc processing technology to produce high-grade zinc oxide from its Lone Mountain mine, a non-sulphide zinc project in Nevada, US.
BelZinc has developed a proprietary zinc processing technology, which can produce high-grade zinc oxide from non-sulphide zinc ore.
Nevada Zinc stated that producing high-grade zinc and supplying it to zinc smelters can help in reducing the emissions released during smelting operations.
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The company used BelZinc’s technology to produce zinc oxide. Samples sent to European smelters are claimed to have returned positive results.
In exchange for offering access to its zinc oxide production technology, Nevada Zinc has granted BelZinc a right of first refusal to participate in all future projects of BelZinc in North America.
It will also receive 12 million Nevada Zinc shares, which equates to a 10.8% interest. Furthermore, BelZinc will receive a fixed and variable licensing fee per tonne of zinc oxide produced using the technology.
Nevada Zinc CEO Mike Wilson said: “The zinc oxide market is significantly larger when compared to the size of the zinc sulphate micronutrient market which the company has been focused on since 2021. Nevada Zinc, through its right of first refusal, will have the opportunity to participate in a meaningful way as BelZinc sets out to expand its footprint in North America.
“The strategic plan of both companies is to work very closely together in order to release a PEA in Q4 of this year and to complete a pre-feasibility study in late 2024. As part of the pre-feasibility work we plan to begin a definition and exploratory drill program at Lone Mountain in Q1 2024.”