Taiwanese firm Xin Ye Precious Metal Technology Co. Ltd. opened its $1-M gold processing facility in Jose Panganiban, Camarines Norte on Monday, November 25.
According to a BusinessWorld report, the firm partnered with Johnson Gold Mining Corp. in a bid to process 11.5 metric tons (MT) of concentrate per day. Moreover, Xin Ye also hoped to secure an endorsement from the Department of Environment and Natural Resources (DENR) for its eco-friendly, cyanide-free ore stripping technology for small-scale gold mining in the country.
Xin Ye expressed their interest to work with the Mines and Geosciences Bureau (MGB) in a bid to promote the use of this technology to operators of Minahang Bayan areas nationwide.
“We are committed to the protection of our environment and natural resources by responsible mining,” Xin Ye president Michael Yao was quoted as saying in the report.
The technology was said to be patented to the Green Power 860 (GP-860) solution, offering small-scale miners to use a safer way of stripping gold without the use of dangerous chemicals.
“GP-860 gold stripping technology aims to replace traditional extraction process which usually involves the use of the banned chemistry mercury that remains popular and widely used by small-scale miners in the Philippines,” Xin Ye was quoted in a statement.
The technology can make mineral extraction efficiently and effectively, shortening ore-to-gold extraction from two to eight days to six to eight hours only.
At present, Xin Ye said they are in discussions with eight mining companies in Baguio and Bicol who are keen on the technology. The company revealed that they aim to close the deals in 2020.
