Virotec International Ld
14 June 2005
14 June 2005
VIROTEC AWARDED CONTRACT FOR MINE SITE REMEDIATION IN SOUTH KOREA
Virotec International Ltd (ASX/ AIM: VTI) is pleased to announce that it has
entered into an agreement with its strategic partner Geoenvirotec Co Ltd of
Daegu, South Korea for a licence to supply its ViroMineTM Technology to a
large-scale remediation project at the former Ulsan Iron Mine located in Ulsan,
located 250 km southeast of Seoul. The total value of the contract to Virotec is
approximately AUD$540,000, and is expected to be completed by the end of August,
Virotec will be supplying its Neutra BTM reagent, and providing technical
support, know-how and advice to the project.
'The now derelict mine in the port city of Ulsan is being remediated by its
owners, the Hyundai Industry Development, with a view to constructing a
residential apartment complex on the site', explained Dr Lee Fergusson,
Virotec's Chief Operating Officer.
Executive Chairman, Mr Brian Sheeran states that 'Virotec and Geoenvirotec have
been working on developing this market for some time and this first order is
seen as an important step into this potentially large market. We believe that
this project will act as a good reference site in Korea and will assist in wider
use promotion of Virotec's Technologies in the region'.
For further information please contact Virotec on +61 7 5530 8014, or visit
Virotec's website at www.virotec.com.
For UK media enquiries, please contact Nick Fox at M:Communications on +44 (0)
207 153 1540
Hyundai Industry Development assigned the investigation of the project in 2002
to the Korea Agriculture and Rural Infrastructure Corporation (KARICO), in order
to reveal the extent of soil and groundwater contamination at the site. The
report showed that soil was highly contaminated by heavy metals and metaloids
(such as Arsenic, Cadmium, Zinc, and Nickel), and one third of the entire area
and most groundwater is contaminated by arsenic generated from elevated levels
of arsenopyrite, the most common sulphide mineral at the site.
'KARICO searched for the best technology to remove heavy metals from soils and
reduce arsenic in the groundwater without significantly altering pH', said Dr
Jeong-Yul Suh, CEO of Geoenvirotec. KARICO contacted Geoenvirotec in October
2002, and laboratory test work performed by Geoenvirotec and Virotec in
conjunction with KARICO staff began to demonstrate the efficacy of ViroMineTM
Technology to meet these objectives. In particular, the test work utilised
Virotec's uniquely blended Neutra BTM reagent, which has been developed
specifically with the dual role of modifying soil pH and binding arsenic and
other heavy metals. As a result of that test work and an on-site demonstration,
KARICO chose ViroMineTM Technology to be used at Ulsan Iron Mine site, and
engaged Geoenvirotec to carry out part of the remediation project.
VIROTEC INTERNATIONAL LTD
PO Box 188
Sanctuary Cove QLD 4212
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