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Alexander Mining unearths Zambia patent for cobalt leaching method
Alexander Mining's subsidiary MetaLeach Limited has been granted an African Regional Intellectual Property Organisation patent in Zambia, the company announced on Monday.
The patent concerns the company's method for leaching cobalt from oxidized cobalt ores and has a standard term of 20 years from 6 August 2010 when the initial filing for the patent was made.
Martin Rosser, chief executive of Alexander Mining, said: "The technology described in the patent has potential application for the extraction of cobalt from a range of oxidised or non-sulphide deposits. Cobalt, an essential component of lithium ion batteries, is a core target metal for the commercialisation of our intellectual property and we now have patent protection coverage in Zambia, one of the world's most prospective countries of patent use."
Production of the metal from Zambia, the Democratic Republic of Congo, Madagascar, South Africa and Zimbabwe accounts for more than 71% of the world's cobalt.
Further to the new patent, the AIM-listed mining and mineral processing firm entered into an agreement with Turkish mineral processing specialist Proses Mühendislik last week to investigate commercial opportunities for MetaLeach's technology in Turkey, Iran and the rest of the Middle East.
"We are delighted with this partnership agreement with Proses. Proses is a highly regarded mineral processing consultancy with a strong presence in a part of the world that is highly prospective for our technology," said Rosser of the agreement.
As of 1638 GMT, Alexander Mining's shares were up 2.22% at 0.12p