Focus Ventures to conduct Technical & Economic Study with Global Specialty Chemical Group for P4 production and its Derivatives
globenewswire.com
February 20, 2018 08:00 ET | Source: Focus Ventures Ltd.
VANCOUVER, British Columbia, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Focus Ventures Ltd. (“Focus”) (TSX-V: FCV) announced that it has entered into a Technical & Economic Study agreement with Italmatch Chemicals (“Italmatch”), an innovative chemical group based in Genoa, Italy. The programme entails conducting economic due diligence on the potential to construct and operate a P4 production facility on Focus Ventures’ Bayovar 12 highly-reactive phosphate rock concession in northern Peru.
“We are pleased with the opportunity to work with a leading privately-owned specialty chemical group that is committed to developing innovative products and technologies using P4,” said Focus’s President, Gordon Tainton. “This further demonstrates our continued commitment to the development of our Bayovar 12 concession in northern Peru and bringing added value investment to the Bayovar basin.”
Italmatch is a global specialty chemical group, with leadership in lubricant, water & oil, detergents, plastics additives, markets and technology in phosphorus derivatives (both organic and inorganic), polymers, esters and chlorides, from synthetic to fully natural products.
Italmatch has six manufacturing plants located in Europe (Italy, Spain, Germany and UK), two in Asia Pacific (China and Japan), and four in the USA. The Company has a global coverage with 100% owned subsidiaries in Brazil, Belgium, Poland, USA, Japan, Singapore and China.
Focus is developing its Bayovar 12 phosphate deposit, located 40 km from the Pacific coast in the Sechura District of northern Peru. Bayovar 12 hosts a large resource of highly-reactive sedimentary phosphate rock - a key raw material input for phosphate fertilizers and the main input raw material for P4 production.
Sample key input components have been provided by Focus to Italmatch and a joint site visit has been conducted in Peru. Italmatch has a long record of proven P4 performance:
- Italmatch started its manufacturing activities by producing Yellow Phosphorus (P4) in 1929 in its Spoleto site; P4 was used at that time as a major raw material to produce matches.
- Italmatch now uses P4 to produce effective and innovative, environmentally friendly, flame retardants.
- Italmatch is the main European manufacturer of Phosphorus Pentasulphide (Pentasit®), a key raw material for the production of widely used antiwear and antioxidant additives in lubrication.
Pentasit® is a registered trademark of Italmatch Chemicals Group.
Key agreement objectives of the technical and economic study are:
- to determine if the key input requirements to produce P4 are available at the Bayovar 12 project, including grid electricity, phosphate rock with a 30% P2O5 content, silica and metallurgical coke.
- to confirm that a container handling terminal is available to safely and effectively handle the loading of P4 either in ISO tanks or steel drums.
- to optimize the key inputs costs along with labour enabling the capital investment for a 20,000 metric tons P4 plant to be developed with the option to double the capacity after 5 years.
About Focus
Focus is developing the Bayovar 12 phosphate deposit located 40 km from the coast in the Sechura District of northern Peru. Bayovar 12 hosts a large resource of highly-reactive sedimentary phosphate rock - a key raw material input for phosphate fertilizers and vital to world food production. Reactive phosphate rock from Sechura is a natural, slow-release source of phosphorus that can be applied directly to crops. One of Focus’s objectives is to supply direct application phosphate rock to the agricultural regions of Central and South America and Southeast Asia.
For further information, please visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Simon Ridgway, Chief Executive Officer
Symbol: (TSX-V: FCV)
Shares Issued: 234.4-million
For further information, contact:
Gordon Tainton, President
Tel: 604-248-8380; Fax: 604-682-1514
Email: info@focusventuresltd.com
Website: www.focusventuresltd.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the planned technical and economic study. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors relate to, among other things, information regarding the planned technical and economic study; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the technical and economic study will proceed as anticipated and will provide the expected conclusions; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements. |
