Titanium Corp locks in financing on CNRL pilot project
Titanium Corporation announced full funding for its $10.2 million CVW™ project, with Emissions Reduction Alberta (ERA) covering 50% of engineering costs, to a maximum of $5 million. The company will kick-in $1.5 million of its own funds while sponsor Canadian Natural Resources (CNRL) has committed up to $3.7 million.
CVW™ is designed to recover bitumen and solvent from Froth Treatment tailings, preventing the hydrocarbons from entering the tailings pond and releasing VOCs and greenhouse gases. Valuable minerals such as zircon are then recovered from the solids stream.
The company says it is currently in the process of gathering resources for the project. Front-end engineering (FEED) is expected to start in early 2018 and last for about 12-months. The pilot will be installed at CNRL's Horizon Mine and is expected to be operational by 2021.
Results from the pilot plant will be shared with other oil sands mine operators via Canada’s Oil Sands Innovation Alliance (COSIA).