|By Marketwired .||
|September 5, 2013 05:00 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/05/13 -- BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial wastewater treatment, has suspended operations at its copper recovery facility in Bisbee, Arizona. During the past two months the Bisbee area experienced unusually high levels of rainfall which necessitated the plant being placed in an idle mode. In mid-August, when the plant was in idle mode, it encountered a number of operational and process issues that led to a gas release event. BioteQ and its joint venture partner Freeport-McMoRan Copper & Gold are presently investigating the root cause of this release.
The BioSulphide® plant in Bisbee removes copper from wastewater at a closed mine site. The plant had been recovering the copper as a high-grade copper concentrate until early August when it encountered technical issues. Commissioned in 2004, the plant is owned and operated by the joint venture company Copreco LLC.
Jonathan Wilkinson, BioteQ's Chief Executive Officer, stated, "We are working diligently with our on-the-ground team to fully understand the causes of the operational issues and we aim to put in place measures to address any further concerns. I would note that, while the Bisbee plant generates the least Proportional revenue and cash flow of our operating facilities, the shutdown will have an impact on the revenue and cash flow the Bisbee facility will generate for the company during the remainder of the year."
All other BioteQ plant operations continue to run as anticipated. In addition, the two new copper recovery plants presently under construction in China remain on schedule to be fully operational by late Q1/early Q2 2014.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company's proven technologies have been applied at sites around the world to recover dissolved metals and remove sulphate, producing clean water and eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
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