Chemical Technology, Market Outlook

BASF and Moleaer™ partner to combine novel technologies in the field of mining to enhance copper recovery at existing mines

BASF and Moleaer partner to combine
Global chemical company BASF and Moleaer™ Inc., the global leader in nanobubble technology, announced an exclusive partnership. This partnership will combine expertise in mineral processing, hydrometallurgy, gas transfer, and nanobubble technology to develop innovative processes for mining. The initial aim is to target the copper leaching process and improve extraction rates of copper ores containing high levels of chalcopyrite, which have historically been difficult to leach.The demand for copper is expected to increase significantly, as it is an essential raw material for driving the electric revolution. This will play a key role as an enabler to decarbonizing the global economy. According to a report released in July by S&P Global Market Intelligence, the annual demand for copper is projected to reach 50 million metric tons by 2035, from the current 25 million metric tons today. The study also finds a potential copper deficit of as much as 10 million metric tons.

As existing mines deplete their resources, higher demand will require new mines. In addition, ore grades are declining, ore mineralogy is becoming more complex, and ESG (Environmental, Social and Governance) responsibilities are increasing. The result is that new mines are taking longer and longer to come to fruition. Therefore, maximizing the recovery of copper from existing reserves has never been more crucial.

Copper is extracted from primary sulfide ores through a flotation process and low-grade ores are traditionally discarded because they are too costly to process. Currently, an alternative hydrometallurgical heap leach process is employed for low grade oxide and secondary sulfide ores. It is, however, very difficult to leach primary sulfide ores, such as chalcopyrite, which leads to low recovery efficiencies.

Based on test work conducted by BASF, Moleaer’s nanobubble technology improves the extraction process of valuable metals such as copper. When combined with BASF’s LixTRA™ reagent, the mineral recovery rates and efficiencies are compounded, especially in sulfide-based ores such as chalcopyrite, which have historically been challenging to leach effectively.

 “Technological improvements and collaborations like the one we announced today are essential if the industry is to maximize the recovery of copper at existing mines. By combining BASF’s LixTRA reagent, allowing greater ore-lixiviant contact, together with Moleaer’s nanobubble technology to facilitate a higher oxidative environment, we offer technology to the industry to significantly increase copper recoveries.”

-Caren Hoffman, who leads the global mining solutions business at BASF

Nick Dyner, CEO of Moleaer, added: We look forward to working with BASF, a global leader in mineral extraction chemistry, to improve the recovery of copper and help support the green economy. This important collaboration comes at a time when the ability of mining copper is only getting more costly and challenging. Moleaer’s nanobubble technology will allow the mining industry to improve the efficiency and efficacy in existing mines and narrow the gap between supply and demand of copper.

About BASF mining solutions
With innovative products, global field support and industry leading technical expertise, BASF mining solutions provides sustainable solutions which increase productivity, recovery and flexibility throughout the hydrometallurgical process of mining operations in leaching, solvent extraction, flotation, solid/liquid separation and tailings management. Further information can be found at www.mining-solutions.basf.com BASF mining solutions is part of BASF’s Performance Chemicals division. The division’s portfolio also includes fuel and lubricant solutions, plastic additives, as well as oilfield chemicals. Customers from a variety of industries including Chemicals, Plastics, Consumer Goods, Energy & Resources, and Automotive & Transportation benefit from our innovative solutions. To learn more, visit www.performancechemicals.basf.com

About Moleaer
Moleaer™ is the leading nanobubble technology company with over 2,000 nanobubble generator installations in 42+ countries. Deploying the unique power of nanobubbles, Moleaer enhances and improves the performance and productivity of some of the most critical industrial processes, unlocking the power of water to help farmers grow more food, empower businesses to manage their water needs more effectively and efficiently, and restore aquatic ecosystems sustainably without chemicals. Nanobubbles, which are 2,500 times smaller than a grain of salt, allow the scarce resource of water do more with less. They supersaturate water with oxygen, form natural oxidants for disinfection, improve plant health, and increase water’s ability to permeate soil and rock. Moleaer’s patented nanobubble technology provides the highest oxygen transfer rate in the aeration and gas infusion industry, with an efficiency of more than 85% per foot of water. Its nanobubble generators are a cost-effective, chemical-free solution proven to increase sustainable food production, reduce chemical usage, restore aquatic ecosystems, and improve natural resource recovery. Moleaer technology has been validated by extensive research and renown universities.

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Chemical Management

Shrieve Chemical Announces Acquisition of TLC Ingredients

Shrieve | January 11, 2024

Shrieve Chemical Company a portfolio company of Gemspring Capital and a leading, value-added chemicals distributor, announced that it has acquired TLC Ingredients ("TLC"), a distributor of food ingredients, industrial chemicals, and phenolic resins based in Crest Hill, Illinois. Terms of the transaction were not disclosed. Founded in 2001, TLC has built a reputation as a premier distributor, distinguished by a dedication to operational excellence, food safety, and responsible distribution. With a class-leading facility in the Midwest, the company is well-equipped to meet the evolving needs of customers with high service levels. The acquisition expands Shrieve's presence in the Midwest and enhances the company's ability to serve the attractive – and growing – food ingredients end-market. Additionally, it positions Shrieve strategically to leverage its existing product lines to serve TLC's high-growth specialty industrial customers, who have relied on TLC as a trusted supplier of Durez phenolic resins for more than two decades. "I am thrilled to welcome TLC Ingredients to the Shrieve Chemical family. This acquisition underscores our commitment to excellence and focus on long-term growth as we look to thoughtfully increase our presence and the value-added services we can provide across the country," said George Fuller, CEO of Shrieve. "The TLC team has built an exceptional business with an industry-leading distribution facility, long-standing supplier relationships, and a broad product offering that serves several attractive global end-markets. TLC's expertise, innovative approach, and customer focus aligns very well with our broader strategic vision. Together, we look forward to delivering enhanced value to our customers and supplier partners." "We are excited about the future as we partner with Shrieve and continue to expand, building on our reputation as one of the highest-quality food ingredient and chemical distributors in the United States," said Tommy Turiff, President of TLC Ingredients. "Our shared commitment to excellence and dedication to our customers make this an ideal partnership. We look forward to bringing our combined expertise and capabilities to the market and continuing to serve our customers with enhanced resources and innovation." About Shrieve Shrieve, based in The Woodlands, TX, is a leading, value-added chemicals distributor serving attractive markets and end-use applications globally. Since its founding in 1978, Shrieve has leveraged its knowledge network to find the best match between suppliers, customer needs, and product applications. Through its four operating segments, Chemical Distribution, Specialty Lubricants and Enhancers, Energy Products and Services, and Custom Packaging, Shrieve markets nearly 1,500 products across more than 40 countries. About TLC Ingredients Based in Crest Hill, IL, TLC Ingredients is a distributor of food ingredients, industrial chemicals, and phenolic resins. The company was founded in 2001 and provides its customers and suppliers with the highest levels of service. TLC's corporate culture is built on the twin pillars of Food Safety and Responsible Distribution. About Gemspring Capital Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.5 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors.

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Chemical Management

LyondellBasell & MSI Technology, LLC Collaborate on Innovative Consumer Packaging

LyondellBasell | February 02, 2024

LyondellBasell and MSI Technology, LLC announced they have entered into an agreement for MSI Technology to serve the LyondellBasell Polybutene-1 (PB-1) resin line into consumer packaging applications for North America. MSI Technology is also the sales representative for the LyondellBasell Plexar product line. The expansion of the relationship is a strategic fit relative to the markets MSI Technology serves today. MSI Technology will use its technical sales approach combined with its current specialty product portfolio to enhance offerings to customers in consumer packaging. LyondellBasell PB-1 resins are commonly used in consumer packaging applications for easy-open packaging and film modification for seal initiation temperature providing Broad seal-peel temperature range Consistent and reproducible peel performance Adjustable peel force to end-use requirements Similar initiation and propagation peel force "Whitening" with "Smooth & Clean" peel surface Good seal integrity Easy processability Usable in blown film, cast film, extrusion coating and sheet extrusion "At LyondellBasell, we're passionate about creating solutions for everyday sustainable living," said Palmer Giddings, vice president Polymers at LyondellBasell. "Collaborating with MSI Technology on innovative packaging solutions is a major step forward in achieving that goal." "We are thrilled to expand our collaboration with LyondellBasell," said Brian McCaghy, president of MSI Technology. "The PB-1 resins align perfectly with our mission to provide specialty polymers and solutions to the packaging industry." The PB-1 resin line is part of MSI Technology's product offerings. The company also provides clients with access to dedicated sales and technical service specialists who provide guidance on technical resin selection to meet customer requirements. About LyondellBasell We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. About MSI Technology, LLC MSI Technology specializes in the sales, marketing, and development of specialty polymers. Our product lines include: Plexar tie-layer adhesives (manufactured by LyondellBasell), SPS peelable sealants, and SpeciPurge purging compound. MSI Technology and its sister company, Soarus LLC, are located in Arlington Heights, IL. Soarus markets Soarnol™), ethylene vinyl alcohol copolymer (EVOH), (manufactured by Mitsubishi Chemical Group) into North and Latin America. The two companies together provide sales and technical service for specialty polymers focused on the packaging market.

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Chemical Management

APA Corporation to Acquire Callon Petroleum Company in All-Stock Transaction

APA Corporation | January 04, 2024

APA Corporation and Callon Petroleum Company have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA common stock. The transaction is expected to be accretive to all key financial metrics and add to APA’s inventory of high quality, short-cycle opportunities. Callon’s assets provide additional scale to APA’s operations across the Permian Basin, most notably in the Delaware Basin, where Callon has nearly 120,000 acres. On a pro forma basis, total company production exceeds 500,000 BOE per day and enterprise value increases to more than $21 billion. Key Highlights Combination of Callon’s Delaware-focused footprint with APA’s Midland-focused footprint provides scale and balance in the Permian Basin; APA’s oil-prone acreage in the Midland and Delaware Basin combined will increase by more than 50% following the transaction; Expected to be accretive on key financial and value metrics; Estimated overhead, operational and cost-of-capital synergies to exceed $150 million annually; and Additional scale anticipated to improve credit profile; pro forma balance sheet will remain strong with leverage at 1.1x net debt / adjusted EBITDAX. Management Commentary “This transaction is aligned with APA’s overall portfolio strategy and fits all the criteria of our disciplined approach to evaluating external growth opportunities. Callon has built a strong portfolio in the Permian Basin that is complementary to our existing Permian assets and rounds out our opportunity set in the Delaware,” said John J. Christmann IV, APA’s CEO and president. “The acquisition is accretive and unlocks value for both shareholder bases, as increased scale will enable us to realize significant overhead and cost-of-capital synergies. The pro forma footprint in the Permian will also create opportunities to capture meaningful operating synergies.” “We are very proud of the significant steps we have taken to enhance Callon’s asset base, operational performance and balance sheet over the past several years,” said Joe Gatto, Callon’s president and CEO. “This combination with APA now provides for an enhanced value proposition for our shareholders built on their depth of experience and strong execution in the Permian Basin, flexibility for increased capital allocation, and ongoing delineation and optimization efforts. Importantly, I would like to personally thank each and every Callon employee for their role in building this company. I am very proud of this team and what we have achieved together.” Combined Permian Asset Position and Preliminary 2024 Planned Activity Pro forma average daily Permian Basin production was 311 Mboe/d in 3Q 2023, which represents a 48% increase from APA’s Permian Basin production on a standalone basis. APA's oil production as a percentage of BOE’s in the Permian increases from approximately 37% to 43% in 3Q 2023, on a pro forma basis. APA will provide additional activity plans and details post closing. Pro Forma APA Positioning “APA has a proven ability to deliver strong results from its unconventional assets in the Permian Basin, and we look forward to building on the progress that the team at Callon has made within its asset base. This transaction is aligned with our strategy of maintaining and growing a diversified portfolio, underpinned by large-scale core areas of operation while continuing to build a portfolio of medium and longer-term exploration-driven development opportunities,” Christmann said. Following the closing, the company’s worldwide pro forma production mix will be approximately 64% U.S. / 36% international. APA’s global portfolio includes ongoing development on large-scale legacy assets in the U.S. and Egypt. The company is also advancing a FEED process for a large-scale FPSO development offshore Suriname. In addition to current production and development activities across the globe, APA maintains a differentiated exploration portfolio, which includes newly acquired large-scale blocks offshore Uruguay and onshore state-land leases in Alaska. About APA APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor. About Callon Petroleum Callon Petroleum Company is an independent oil and natural gas company focused on the acquisition, exploration and sustainable development of high-quality assets in the Permian Basin in West Texas. Pro forma enterprise value is derived from the addition of each company’s market capitalization based on closing stock prices on 1/3/24, plus the net debt of each company as of 9/30/23.

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Chemical Management

Charter Next Generation Launches GreenArrow™ Cavitated Recycle-Ready PE Films For Confectionery Applications Using Void Technologies'

Charter Next Generation | January 30, 2024

Charter Next Generation (CNG), a leading provider of sustainable films, announced that it has expanded its GreenArrow portfolio with a new line of cavitated polyethylene (PE) films. Developed in collaboration with VOID Technologies (VOID), the new recycle-ready films meet the rapidly growing demand for flow wrap and confectionery applications. Using VOID's patented VO+™ PE Voiding Agent Masterbatch and Machine Direction Orientation (MDO) film processing, CNG has successfully developed high-performing PE film structures that are opaque yet compatible with existing PE recycling streams making more packaging suitable for recycling. Adoption of MDO PE film is a rapidly growing industry trend as it enables recyclable, high-performing flexible packaging. By using VO+ Masterbatch, CNG can now produce thin gauge voided MDO PE films that offer a combination of low density and high opacity not achievable with mineral additives such as TiO2 pigments or CaCO3 cavitation agents. This innovation creates a unique PE-based recycle-ready alternative to conventional PP-based substrates that often require biaxial orientation. "CNG continues to raise the bar and re-invent packaging with a sustainability-first mindset. Using VOID's patented VO+ technology enables us to achieve the high opacity, ease of processing, and recycle-ready performance we are targeting for these films. This in turn allows our customers to reduce their use of virgin materials and process their packaging in existing polyethylene film recycling streams," said Brent Greiner, Vice-President of Technology at Charter Next Generation. The VO+ PE Masterbatch is added to PE resin to create nano and micro-scale voids, reducing density and creating high levels of opacity via light scattering through the voided structure. VOID's latest VO+ PE Masterbatch product is compliant with direct food contact standards in North America and Europe and has passed key recycling standards. James Gibson, CEO of VOID Technologies, commented, "CNG is a highly innovative and forward-thinking company. We are delighted with this collaboration and to be part of launching this new generation of recycle-ready voided PE films. As we look to the future, we are excited to be working with CNG across a range of projects that directly address sustainability and recycling targets." About Charter Next Generation Charter Next Generation (CNG) is North America's leading producer of highly engineered solutions used in the food, consumer, healthcare, and industrial markets. Committed to a sustainability-first approach, CNG leverages material science to engineer materials that help companies meet and exceed their sustainability goals. Known for world-class manufacturing capabilities and an innovation-driven approach, CNG operates fifteen facilities and employs over 2,200 employees and is a proud partner of Ownership Works®—a nonprofit partnering with companies to enable shared ownership, granting employees a stake in the value they create. About VOID Technologies VOID is a materials science company accelerating the transition to more sustainable plastics and packaging. The company combines its VO+ cavitation technology and R&D labs to help plastic and packaging companies rapidly develop new innovative products with a reduced environmental footprint. VOID's extensively patented VO+ technology was first conceived as part of a research initiative at Kimberly-Clark. Soon after, in 2015, VOID was launched as an independent company. Today, VOID has R&D labs and a compound manufacturing facility based in Neenah, Wisconsin (USA) and has commercial teams in Canada, France, and the UK.

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