VANCOUVER, BRITISH COLUMBIA - June 4, 2015 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT:1MG) is pleased to announce the Company has entered into a Memorandum of Understanding (the “MOU”) with Industrial Furnace Company (“IFCO”) in which IFCO will provide engineering services and calcining equipment for MGX’s flagship Driftwood Creek magnesium property (“Driftwood Creek”).
Terms of the MOU establish a mutual partnership between MGX and IFCO whereby:
- IFCO will provide engineering and equipment services for installation of an industrial-sized kiln(s) at Driftwood Creek, outlined as follows:
1. Engineering services
2. Equipment manufacturing
3. Laboratory and in-house pilot plant services
4. Product and market development consultation
5. Energy and operating cost modelling
6. Implementation and commissioning
7. Service and maintenance programs
8. Expansion plan
- IFCO will act as lead development partner responsible for engineering, construction and installation of necessary industrial kiln(s) for production of market-grade magnesium oxide from magnesite ore mined at Driftwood Creek; and
- IFCO and MGX will work together to develop additional industrial mineral projects using a similar business model.
“We are pleased to be working with one of the world’s leading manufacturers of industrial kilns,” stated MGX President and CEO Jared Lazerson. “The use of advanced proprietary technology developed by IFCO, along with access to low-cost regional energy, further positions MGX to become a significant supplier of magnesium oxide in North America.”
Picture 1.Industrial-sized vertical shaft kiln similar to proposed equipment to be installed at Driftwood Creek mine.
About Industrial Furnace Company
Industrial Furnace Company (“IFCO”) is a private family owned company, founded in 1948. IFCO is made up of a four divisions allowing the company the diversity and capabilities to be a full service contractor, capable of handling all facets of industrial construction. With over 65 years of experience IFCO has made a strong commitment to bring the latest technology to the Magnesite Industry. IFCO provides the latest technology reducing cost of ownership and operating costs. IFCO has performed projects in 47 American states, Puerto Rico, Canada, Europe, Asia, Africa, and South America.