IPVG Corporation (the "Company"), through its affiliate, New Wave Resources, has signed a Design, Build, and Operate Agreement with REC, a Canadian firm, for the construction and operation of a mineral refinery in the Philippines. REC and its partners have extensive design and construction expertise in mineral processing as well as equipment manufacturing and product trading; they will work exclusively with IPVG in the Philippines to build this and any future refineries. The Company and REC have also entered into an agreement to sell the refined minerals through REC's sales channel and network.
The collaboration includes REC working to sell the majority of refined product through long-term off-take contracts, as well as construction of the refinery within an agreed upon budget and timeframe. The refinery is scheduled to produce finished products by 2015.
IPVG'S first refinery has a project cost estimated at US$ 250 Million and with 3,000 Metric Tonnes of finished refined mineral output annually. The refined mineral is used in several industries including high tech and green tech sectors. IPVG intends to export most of its finished product to countries such as Japan, Korea, and the United States and Europe, where the product is in high demand.
In March, IPVG, through its affiliate, Conqueror Space Limited, also signed a Memorandum of Understanding with REC to build and operate a similar mineral refinery in India.
REC is a Vancouver, Canada based company formed to address shortages of strategic and rare minerals in international markets by building processing facilities in key locations around the world. - https://www.affordablecebu.com/
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"IPVG Corporation signs Design, Build, and Operate Agreement with New Wave Resources and REC" was written by Mary under the Business category. It has been read 2064 times and generated 0 comments. The article was created on 03 May 2012 and updated on 03 May 2012.
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