MGX Partners with Highbury Energy to make Petroleum Coke more Clean
ZURICH, SWITZERLAND / ACCESSWIRE / January 16, 2018 / Today, MGX Minerals Inc. (CSE: XMG); (OTCQB: MGXMF); (Frankfurt: 1MG) announced to partner with Highbury Energy Inc. to develop a chemical process to concentrate and extract metals, such as nickel, vanadium and cobalt, from petroleum coke ("petcoke").
Petcoke is the bottom-of-the-barrel leftovers from the refining of Canadian oilsands crude oil and other heavy oils. It´s basically what´s left when gasoline gets taken out of raw oil. Every barrel of crude that comes out of the Alberta tar sands throws off between 60-130 lbs of petcoke. Made up of almost pure carbon, petcoke contains more carbon than coal and thus burns hotter. However, it´s much cheaper than coal because when burned, petcoke is one hell of a potent source of planet-warming carbon dioxide including an array of pollutants such as sulfur that pose serious health and environmental risks.
Most power plants in North America and Europe will not burn petcoke for fuel because it´s so polluting. It is a waste product that is almost free for the taking. Not only Alberta itself but also cities like Detroit and Chicago, where large US refineries are located, are literally drowning in petcoke due to expanded production from Alberta´s tar sands.
The full report can be accessed with the following links:
English: http://rockstone-research.com/index.php/en/research-reports/4048-MGX-Partners-with-Highbury-Energy-to-make-Petroleum-Coke-more-Clean
Disclaimer: Please read the full disclaimer within the full research report as fundamental risks and conflicts of interest exist.
SOURCE: Rockstone Research