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Orbite Aluminae Technology Will Make Profound Impact On Rare Earth Industries
Jul. 31, 2012 03:30PM PST
Rare Earth InvestingReuters reported Midasletter’s press release in regards to Orbite Aluminae Inc. (TSX:ORT) stating that the company’s technology will have a profound effect on the Aluminium and Rare Earth industries.
Reuters reported Midasletter’s press release in regards to Orbite Aluminae Inc. (TSX:ORT) stating that the company’s technology will have a profound effect on the Aluminium and Rare Earth industries.
As quoted in the press release:
At the core of Orbite’s business is its disruptive process that extracts 99.999% pure alumina directly from aluminous clays, bypassing the requirement for the mining of bauxite and the production of the toxic “Red Mud” associated with that process. Ultimately that means a cost reduction of anywhere from 30 to 50 percent in alumina production, in fact becoming de facto the low cost producer of the industry
Orbite CEO Richard Boudreault commented:
At the end of the day, including a cost spreading over all the by-products we should have a cost advantage of about 50% over the low cost incumbents Bayer (bauxite producers). And about 66% under the more expensive Bayers (process producers). The cash cost of alumina production for the rest of the industry has increased much in the last quarter improving our PEA calculated cost advantage.