Air Products Aids Gold Production - Analyst Blog
March 05 2013 - 4:30AM
Zacks
Industrial gas giant Air
Products & Chemicals Inc. (APD) announced that its Air
Separation Unit (ASU) technology is now being used at the world’s
largest pressure oxidation (POX) gold production facility in Pueblo
Viejo, Dominican Republic. Air Products teamed with Hatch Ltd and
Pueblo Viejo Dominicana Corporation (PVDC) for the sale of
equipment.
The collaboration designed a plant by combining Air Products’ two
2,000 ton per day (TPD) cryogenic oxygen units to fulfill the
complex operating needs of PVDC's advanced pressure oxidation
technology used for gold extraction at the facility. The integrated
4,000 TPD oxygen units will act as the largest single-site oxygen
requirement plant for POX application. This marks the second set of
oxygen plants which the company has supplied into the Dominican
Republic over the last few years for gold extraction.
Apart from the equipment sale, Air Products also provided training
to the PVDC operations team through its Customer Plant Support
after-market services group.
PVDC is a joint venture between Barrick Gold
Corporation (ABX) and Goldcorp Inc (GG).
Barrick holds a 60% ownership of PVDC with Goldcorp owning the
remaining 40% stake. Air Products worked with Hatch as a
subcontractor and Barrick in the design, building and commissioning
of the facility's equipment. The Pueblo Viejo site has a potential
gold reserve of over 25 million ounces and a projected mine life of
more than 30 years.
Air Products’ products and services strategically focus to meet the
needs of the mining industry. The company’s wide range of products
and services includes industrial gases supply, operating and
maintenance services for gases plants, merchant gas supply where
available, and amines for flotation requirements.
Currently, Air Products owns and operates over 300 air separation
plants in over 40 countries globally. The company also sold,
designed, and built more than 2,000 air separation plants
worldwide.
Air Products retains a short-term (1 to 3 months) Zacks Rank #2
(Buy).
Another company in the chemical industry worth considering is
Akzo Nobel NV (AKZOY), which retains a Zacks Rank
#1 (Strong Buy).
BARRICK GOLD CP (ABX): Free Stock Analysis Report
AKZO NOBEL NV (AKZOY): Free Stock Analysis Report
AIR PRODS & CHE (APD): Free Stock Analysis Report
GOLDCORP INC (GG): Free Stock Analysis Report
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