EDMONTON, Alberta, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Mineworx Technologies Ltd., (the "Company" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) is pleased to announce that in addition to Platinum and Palladium the Company is now able to recover Rhodium successfully from used catalytic converters.
During the past year, the Mineworx team has been diligently working on research projects that has the potential to increased value to the Company. One of these projects was a new method that now allows for the recovery of Rhodium (Rh) in addition to Platinum (Pt) and Palladium (Pd).
Rhodium is a highly valued commodity that is present in many catalytic converters. The average spot price for Rh in the previous thirty (30) days is approximately $13,680.00 USD per ounce.
During research and trials conducted in Tennessee, it was determined the existing Mineworx pilot plant would be capable of recovering Rhodium by utilizing the newly developed techniques. Modifications to the pilot plant required to implement the new process were completed and did not adversely impact the operating efficiency or processing costs of the existing process for Pt and Pd.
The Company now plans for a full-scale set of tests utilizing the pilot plant to confirm the commercial viability of the initial results.
Greg Pendura, President and CEO stated, "This is exciting news for the Company as it allows us to source a broader range of feedstock and to recover a highly valued metal. We have a talented research team whose efforts continue to deliver new opportunities for the Company."
Mineworx is positioned for growth in the catalytic converter sector through the development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals. Initial focus is the extraction of platinum and palladium from diesel catalytic converters supplied by its business partner Davis Recycling Inc. For further information, please visit www.mineworx.net
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For further information contact:
MINEWORX TECHNOLOGIES LTD.
President & CEO