BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

November 05, 2007 08:30 ET

BioteQ Starts Commissioning New Plant in China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2007) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of metal and sulphate contaminated water, has initiated commissioning of their new plant in China at the Dexing mine site, in joint venture with Jiangxi Copper Company Limited. The $4.2 million plant will recover copper, using BioteQ's proprietary ChemSulphide™ process, to produce a saleable metal product and clean water that can be discharged to the environment. The project is a 50-50 joint venture with Jiangxi Copper Company Limited, where the project partners share equally in the capital and operating costs, as well as the metals recovered.

Brad Marchant, President and CEO of BioteQ, stated, "Our project team is currently on-site to commission the water treatment plant in Dexing, the second of five new construction projects in progress for BioteQ. The Jiangxi Copper Company Limited has been an excellent partner for us in China, providing local knowledge and experienced staff throughout the construction phase. We look forward to working with them to explore additional projects that can use BioteQ's technology."

The commissioning process, where the plant components are tested and optimized, is expected to take 3 to 4 months. When commissioning is complete, the plant will begin processing metal-laden waste water from several sources at the Dexing mine site, and the joint venture will begin generating revenues. It is anticipated that the plant will initially produce a minimum of 1 million pounds of copper per year. The joint venture plans to increase the volume of water processed in stages. The maximum capacity of the plant is 4.4 million pounds per year, depending on the copper grade and volume of acidic water treated. The high grade copper product will be refined at the Jiangxi Copper refinery at commercially competitive rates.

The Dexing copper mine, located near Dexing City in Jiangxi Province in south-eastern China, currently produces 120,000 tonnes of copper concentrate per year from flotation concentrate and also operates a heap leach using SX-EW to produce copper cathode from low grade stockpiles. Daily production at the mine is 100,000 tonnes of ore and the current resource provides 50 years of operation at current production rates. Mine drainage from waste dumps and low grade stockpiles is acidic and contains copper.

BioteQ Corporate Profile

BioteQ finances, builds, owns and operates water treatment plants for the world's mining companies and utility operators, reducing environmental liabilities while generating revenue from waste. The company's commercially proven technology treats acid mine drainage and other metal-laden waste water by sequentially removing metals and sulphate, producing saleable metal products and clean water than can be discharged safely to the environment. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, go to www.bioteq.ca.

About Jiangxi Copper Company Limited

Jiangxi Copper Company Limited is China's largest copper company, and is an important producer of sulphur, gold and silver. The company is a state supported key enterprise involved in all aspects of mining including exploration, mining, milling, smelting and refining. The company owns five large copper mines in China (including the Dexing Copper mine, the largest open pit mine in the country), employs 30,000 people, and trades on stock exchanges in Shanghai, Hong Kong, and London.

On behalf of the Board of Directors

Brad Marchant

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "might" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled "Risks" in the Company's Annual Report for the Year Ended December 31, 2006. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • BioteQ Environmental Technologies Inc.
    Tanja McQueen
    Investor Relations
    1-800-537-3073 or (604) 685-1243
    or
    BioteQ Environmental Technologies Inc.
    Caren Holtby
    Investor Relations
    1-800-537-3073 or (604) 685-1243
    (604) 685-7778 (FAX)
    Email: investor@bioteq.ca
    Website: www.bioteq.ca
    or
    Wolfe Axelrod Weinberger Assoc LLC - In the U.S.
    Adam P. Lowensteiner
    (212) 370-4500
    Email: adam@wolfeaxelrod.com
    or
    Wolfe Axelrod Weinberger Assoc LLC - In the U.S.
    Alisa Steinberg
    (Media)
    (212) 370-4500
    (212) 370-4505 (FAX)
    Email: alisa@wolfeaxelrod.com