Full size / Jared Lazerson of MGX Minerals Inc. takes the cake and brings home the bacon.
Last night in London, the winners of the prestigious S&P Global Platts Global Metals Awards were ceremoniously presented to an international audience of nearly 200 industry executives and global media. A total of 84 finalists from 16 countries were represented in 15 award categories spanning the entire steel, metals and mining complex. Among the winners are Rio Tinto, POSCO, NMDC, and MGX Minerals Inc. being honored as the winner of the Base and Specialty Metals Industry Leadership Award. It‘s history in the making, in full swing, as MGX Nears Commercial Deployment of 4 Petrolithium and Water Treatment Systems in Alberta.
Emceed by CNBC´s Karen Tso, MGX President and CEO Jared Lazerson accepted the award by saying "We saw that there was a fantastic opportunity to take industrial processing to produce a cleaner water byproduct.” Martin Fraenkel, President of S&P Global Platts, said: “Technology played an increasingly pivotal role for this slate of winners, and sustainability emerged throughout the value chain, with environment and efficiencies top of mind. We congratulate MGX Minerals for its impressive win in the 2018 S&P Global Platts Metals Awards.”
S&P Global Platts is the leading independent provider of information and benchmark prices for the commodities and energy markets. Founded by Warren C. Platt in 1909 in Cleveland, Ohio, S&P Global Platts today is recognized as one of the most significant price reporting agencies for the energy markets. With around 1,000 employees, S&P Global Platts is a division of S&P Global Inc. (NYSE: SPGI; market capitalization: $50 billion USD; employees: 20,000). According to the brand-new S&P Global Platts Insight Magazine, the 2018 S&P Global Platts Global Metals Awards aim to recognize those that motivate the metals industry to new paradigms, embodying excellence in leadership, innovation, safety, integrity and overall performance.
The rationale of the independent panel of judges to honor MGX Minerals as the winner of the Industry Leadership Award – Base & Specialty Metals:
MGX Minerals notched finalist status in two Global Metals Awards categories this year: Industry Leadership and Breakthrough Solution of the Year. Judges hailed the company’s “innovation in both concept and technology” as well as its two-pronged business model; by combining lithium extraction with wastewater treatment, MGX has risen to the lead of the Specialty Metals pack.
“Technology is core to the business environment” at MGX Minerals. Its patented [and patent pending] petrolithium process concentrates lithium and other minerals from the plentiful wastewater that accompanies oil and gas production. Rather than storing this wastewater brine or injecting it underground, MGX cleans the brine and separates out the valuable minerals using nanotechnology. Judges admired the company’s “sustainable production practices,” which the company claims are faster, more cost-effective and more environmentally responsible than conventional lithium extraction methods such as solar evaporation.
Judges liked the company’s “ability to thrive without much upfront capital.” MGX partners with oil and gas companies, using their existing infrastructure for access to brine and establishing a cash flow from wastewater handling services. The arrangement enables oil and gas producers to monetize brine; as MGX puts it, “old energy participates in the new energy economy.”
Industry Leader Profile in the S&P Global Platts Insight Magazine:
MGX Minerals: Producers of “Fast-tracked Petrolithium”
MGX Minerals’ novel, patented [and patent-pending], Katerva Award-nominated technology – dubbed the “petrolithium” process – extracts lithium and other valuable minerals from the brine that accompanies petroleum as it is pumped to the surface. Compared to conventional lithium extraction methods, the petrolithium process is exponentially faster, more cost-effective and more environmentally responsible. At the same time, the process provides full-service water treatment for oil and gas producers, offering significant cost savings and reduced risk of environmental contamination to an industry that produces more than 800 billion gallons of wastewater annually. With global demand for lithium skyrocketing and supply failing to catch up, lithium consumers are looking for cost-effective, reliable, high quality sources. Meanwhile, oil and gas producers are facing low revenue from production projects and high costs of handling, storing and disposing of wastewater. MGX’s unconventional extraction method can adjust production levels according to demand, effectively increasing and diversifying global lithium supply. In parallel, its proprietary process that offers an affordable, revenue-generating alternative to existing wastewater disposal options available to the oil and gas industry will become more widely available.
Technical Perspective: Thrust Started
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MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Shares Issued & Outstanding: 105,375,277
Canadian Symbol (CSE): XMG
Current Price: $1.01 CAD (05/17/2018)
Market Capitalization: $106 Million CAD
German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.658 EUR (05/17/2018)
Market Capitalization: €69 Million EUR
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Report #54 “MGX in Final Stages of Commercial Deployment, Second Petrolithium Contract Already in the Making“
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Report #52 “MGX Set to Alter Lithium Landscape, Partners with Investment Bank Heavyweight Capstone Headwaters“
Report #51 “Congratulations! MGX Nominated in 2 Categories as a Finalist for the S&P Global Platts Metals Awards“