MGX Minerals and Engineering Partner Highbury Energy Announce R&D for Petroleum Coke to Synthetic Crude Oil Gasification with Vanadium, Nickel, Cobalt Extraction

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VANCOUVER, British Columbia, July 12, 2018 (GLOBE NEWSWIRE) -- (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) and (“Highbury”) are pleased to report additional work has commenced on gasification of petroleum coke (“petcoke”), an oilsands and refinery by-product, into a synthetic liquid equivalent to refinery crude oil feedstock. The expanded research and development is focused on the re-processing of petcoke waste product to a synthetic crude oil. The target specification is being designed to allow for reuse of petcoke into a primary input equivalent to crude oil that can be upgraded into petro-chemical products in a traditional refinery without any modification to existing equipment. The goal is to produce a fuel which can seamlessly integrate into existing refinery operations. This represents a potential long-term use for the large existing stockpiles of petcoke as well as ongoing output of petcoke and other waste products without significant changes to the existing refinery infrastructure. To date work has been focused on petcoke to hydrogen gas output and the extraction of metals from the gasification of the residual ash, in particular vanadium, nickel, and cobalt. 

The majority of Canadian Petcoke output occurs in close proximity to oil sand producing regions, where bitumen is upgraded into synthetic crude oil. Specifically, the Province of Alberta is known to host vast stockpiles of Petcoke. According to the Alberta Energy Regulator, petcoke inventories are estimated to have reached 106 million tonnes in 2016.

Previously released assay results of petroleum coke (“petcoke”) samples collected from stockpiles produced from the Fort McMurray area mining and upgrading operation as well as an Edmonton refinery are summarized below. Both samples originated from Delayed Coking operations. Samples were obtained and prepared by Highbury Energy Inc. (“Highbury”) and metal contents analyzed by Acme Labs of Vancouver, British Columbia using standard ICP analyses.

Upgrader Coke A had about nine times as much ash as was in Refinery Coke B.

Residue refers to residual mineral matter left after the thermo-gravimetric test. Except for the % Residue, the two cokes have similar combustion properties.

Vanadium is the highest concentration of the 45 trace metals detected in the coke samples.

For Upgrader Coke A, the sum of AlO + SiO is about 70 %.  VO is about 6.6%, according to the ash analyses. For Refinery Coke B, the average % VO in the ash is 45 %.

Vanadium metal concentrations are 3.5 % wt. in Upgrader Coke Ash A, and 19.3 % wt. in Refinery Coke Ash B, which is also enriched in Nickel.

Calculated ash compositions from ICP and XRF methods can show discrepancies due to differences in analytical methods and to the dilution step as used in the present work.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information
Jared Lazerson
President and CEO

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Globe Newswire: 08:05 GMT Thursday 12th July 2018

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