Taiwanese firm launches $1M-gold processing facility in Camarines Norte
XIN YE Precious Metal Technology Co. Ltd. on Monday launched its first $1-million gold processing facility in Jose Panganiban, Camarines Norte.
In a statement, the company said it partnered with local mining company Johnson Gold Mining Corp. for he facility, which can process 11.5 metric tons (MT) of concentrate per day.
The potential gold yield is around 50 grams per ton, or 550 grams of gold per day.
Xin Ye, through local unit Philippine Xin Ye Industry Ltd. Inc., is also hoping to get an endorsement from the Environment department for its “eco-friendly, cyanide-free ore stripping technology for small-scale gold mining in the country.”
Xin Ye wants to work with the Mines and Geosciences Bureau (MGB) to promote the use of the technology to operators in 29 Minahang Bayan areas around the country.
“We are committed to the protection of our environment and natural resources by responsible mining,” Xin Ye President Michael Yao said in a statement.
Mr. Yao said its locally patented Green Power-860 (GP-860) solution offers small-scale miners the option to use a safer way of stripping gold without the use of dangerous chemicals. The solution does not contain cyanide and mercury.
“GP-860 gold stripping technology aims to replace traditional extraction process, which usually involves the use of the banned chemical mercury that remains popular and widely used by small-scale miners in the Philippines,” the company said in a statement.
This technology can also shorten ore-to-gold extraction to six to eight hours, from two to eight days through the traditional method.
At the same time, Xin Ye said it is talking to eight mining companies in Baguio and Bicol who are keen on the technology. The company targets to close the deals in 2020.