Junior Minroc Mines (MN-T) is attempting to gain a foothold in the magnesium industry through its producing Cassiar asbestos tailings project in northern British Columbia.
The company, formerly known as Minroc Resources, hopes to raise between $400 and $800 million to construct a plant capable of treating newly identified concentrations of magnesium silicate minerals in the mine tailings. The tailings are considered similar to those at the Magnola project in Asbestos, Que., where majority owner Noranda (nor-t) is building a $720-million recovery plant that will use a proprietary process developed at the Noranda Technology Centre in Montreal.
The tailings at Cassiar are estimated to contain a resource of 16 million tonnes grading 4.4% chrysotile fibre, while underground resources are pegged at 30 million tonnes grading 15% chrysotile. Only the former resource is factored into Minroc’s current production plan (T.N.M., June 1-7/98).
Magnesium, the lightest of the structural metals, is primarily used in the manufacture of aluminum alloys.
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