A Boston-area company hopes to launch an environmentally friendly gold-processing technology at a Washoe County facility.
But a spokesman for Haber Inc. says the company needs to arrange additional financing to get the project rolling.
Haber Inc. reported a few weeks ago that it has joined forces with Rosewood, a private California company, to create Organic Gold LLC.
The venture plans to build a plant about 20 miles north of Reno to demonstrate its proprietary technology. The plant would process ores from a California mine, said Robert Lembo, a company executive.
The company has said its technology provides 90 percent recovery of the gold from ores without use of cyanide. Heber says processing times in its facility — one to three hours — are at least four times faster than traditional processing systems. The deal with Rosewood and plans for the Reno-area plant were announced a few days after Haber said a similar deal with Phoenix-based LogiGold fell through. It blamed the failure of LogiGold to obtain an economically viable source of ore.
Great Plains Capital Partners LLC in Wyoming will provide project funding for the Washoe County project, Lembo said. In a press release, Haber said the joint venture with Rosewood involves $50 million in financing, including $22 million for first-phase development.
Lembo said the company is working to obtain additional funding for the project. He said the technology has been successful in tests, and Haber is ready to move into commercial operation.
Both Haber and Rosewood are privately held.
NNBW staff
