Edmonton, Alberta, June 24, 2021 — Mineworx Technologies Ltd., (the “Company” or “Mineworx“) (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) announced today that its wholly owned subsidiary Mineworx USA Inc. has signed a Joint Venture Operating Agreement with Davis Recycling Inc. “Davis” of Tennessee.
The signing parties will immediately form a new company to be called PGM Renewal LLC with Mineworx USA having a 55% equity position and Davis owning 45%.
Mineworx will be responsible for providing its technologies and processes under the Joint Operating Agreement and Davis will be responsible for supply chain management and material preparation of diesel catalytic converters.
Profits earned from the recovery of platinum and palladium contained in used diesel catalytic converters will be distributed to the partners proportionate to their respective ownership interests.
“We are pleased to formalize the partnership we have with the team from Davis that has been developed over the last year of research and testing,” said Greg Pendura, President and CEO. “This partnership combines the Davis supply chain and logistical expertise with the technology developed by Mineworx for a truly world class operation.”
“We’re extremely pleased to finalize the partnership with Mineworx for this very important initiative,” stated Ben Davis, CEO of Davis Recycling. “The extraction of platinum and palladium from diesel catalytic converters has been top of mind for a very long time and we believe that Mineworx’s environmentally-friendly solution is a perfect fit for us.”
