A momentous alliance unfolds as Binding Solutions Ltd, the UK-based pioneer in metals processing technology, secures a momentous strategic investment of $17.5 million from Mineral Resources, the esteemed Australian mining services company renowned for its world-class iron ore and lithium mining operations.The substantial funding will propel BSL's groundbreaking technology towards the design and construction of a demonstrative plant. This revolutionary technology boasts the capability of producing approximately 50 metric tons per hour of cold-bonded iron ore pellets, a feat achieved with minimal heat and extraordinarily low energy input. BSL's patented process stands poised to revolutionize the global iron ore and steel industry, yielding high-quality pellet and briquette products. Most remarkably, this innovative process curtails energy consumption and slashes CO₂ emissions by an astounding 95% and 93%, respectively, in comparison to traditional induration methods. Furthermore, the near-elimination of SOx and NOx emissions further bolsters its appeal. Notably, the implementation of BSL's technology yields a staggering 90% reduction in capital investment costs per 1 million metric tons per year of production.Beyond the investment, BSL and MinRes embark on several synergistic ventures that capitalize on their respective strengths in technology development, industrial-scale materials handling, and mining services. The demonstration plant's location remains under consideration, with potential sites in the UK, EU, and Western Australia. A definitive decision on site selection is anticipated by the close of 2023.Of paramount significance, MinRes holds the rights to license the BSL technology, paving the way for the manufacture of cold-bonded pellets from iron ore within its own mines. Additionally, MinRes assumes the mantle of the preferred builder of BSL pellet plants across global markets. With a commitment to excellence, MinRes extends design, engineering, project management, and procurement support for the demonstration plant. Moreover, MinRes earns the privilege of appointing a member to the BSL Board of Directors, solidifying its pivotal role in shaping the future of this groundbreaking technology.Mr. Chris Ellison, the Managing Director of MinRes, extols the potential of BSL's technology in facilitating the decarbonization of the global steel industry. MinRes's legacy of harnessing innovation to unlock value cements the excitement surrounding this partnership, a strategic collaboration destined to revolutionize the mining industry.Mr. Julian Lee, the CEO of Binding Solutions, emphasizes the transformative impact of this partnership, heralding it as a crucial milestone in BSL's journey of innovation. The alliance with a venerable player in the global mining industry not only expedites the rollout of BSL's groundbreaking technology but also fortifies the company's access to unparalleled expertise and networks nurtured by MinRes over the years. The focus now shifts to swift progress in planning the demonstrative plant while exploring the potential to apply this groundbreaking technology to lithium, a critical component in the battery industry
A momentous alliance unfolds as Binding Solutions Ltd, the UK-based pioneer in metals processing technology, secures a momentous strategic investment of $17.5 million from Mineral Resources, the esteemed Australian mining services company renowned for its world-class iron ore and lithium mining operations.The substantial funding will propel BSL's groundbreaking technology towards the design and construction of a demonstrative plant. This revolutionary technology boasts the capability of producing approximately 50 metric tons per hour of cold-bonded iron ore pellets, a feat achieved with minimal heat and extraordinarily low energy input. BSL's patented process stands poised to revolutionize the global iron ore and steel industry, yielding high-quality pellet and briquette products. Most remarkably, this innovative process curtails energy consumption and slashes CO₂ emissions by an astounding 95% and 93%, respectively, in comparison to traditional induration methods. Furthermore, the near-elimination of SOx and NOx emissions further bolsters its appeal. Notably, the implementation of BSL's technology yields a staggering 90% reduction in capital investment costs per 1 million metric tons per year of production.Beyond the investment, BSL and MinRes embark on several synergistic ventures that capitalize on their respective strengths in technology development, industrial-scale materials handling, and mining services. The demonstration plant's location remains under consideration, with potential sites in the UK, EU, and Western Australia. A definitive decision on site selection is anticipated by the close of 2023.Of paramount significance, MinRes holds the rights to license the BSL technology, paving the way for the manufacture of cold-bonded pellets from iron ore within its own mines. Additionally, MinRes assumes the mantle of the preferred builder of BSL pellet plants across global markets. With a commitment to excellence, MinRes extends design, engineering, project management, and procurement support for the demonstration plant. Moreover, MinRes earns the privilege of appointing a member to the BSL Board of Directors, solidifying its pivotal role in shaping the future of this groundbreaking technology.Mr. Chris Ellison, the Managing Director of MinRes, extols the potential of BSL's technology in facilitating the decarbonization of the global steel industry. MinRes's legacy of harnessing innovation to unlock value cements the excitement surrounding this partnership, a strategic collaboration destined to revolutionize the mining industry.Mr. Julian Lee, the CEO of Binding Solutions, emphasizes the transformative impact of this partnership, heralding it as a crucial milestone in BSL's journey of innovation. The alliance with a venerable player in the global mining industry not only expedites the rollout of BSL's groundbreaking technology but also fortifies the company's access to unparalleled expertise and networks nurtured by MinRes over the years. The focus now shifts to swift progress in planning the demonstrative plant while exploring the potential to apply this groundbreaking technology to lithium, a critical component in the battery industry
