AMI Silica Signs Term Sheet with International Industrial Partner

Athabasca Minerals Inc (AMI) of Edmonton, AB has announced the signing of a Term Sheet by its subsidiary, AMI Silica Inc, with an international industrial partner to pursue the Duvernay Silica Sand project as a joint venture initiative. The facility will be located in northeastern Alberta close to other premium sand deposits.

The parties will commence with Front-End Engineering & Development (FEED) with completion scheduled for the first half of 2021. AMI says that, assuming the economic forecast remains compelling, construction and operations will follow in the first half of 2022. The estimated 800,000 tonnes/year silica sand facility will be designed to provide products that serve various customers in the energy, construction and environmental sectors.

Robert Beekhuizen, AMI’s CEO, stated, “We are excited about the strategic merits of this project, and to have attracted the interest of a world-class industrial partner. In terms of market economics, the planned operation will mitigate Western Canada’s reliance on imported American sand by introducing Alberta-based, premium domestic sand at improved prices. Our green initiatives will mininize the environmental impact and carbon footprint, unlike any other silica processing facility we are aware of in North America. This project joint venture, exemplifies our commitment to environmental, social and governance excellence.”

Volume 34, Issue 19

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