Hydromet Environmental Recovery Ltd. has entered into discussions for increased financing of around $1.6 million. The company hopes to use the money raised to accomplish the following:
Provide operating capital for the Newman, Ill. hazardous waste recycling facility, which will be in production shortly.
Expand operations at and provide working capital to the Santa Rosalia, Baja California, Mexico plant.
The company also noted that its operations in Mexico have proceeded well and markets have been established at a profitable level for the material as an industrial mineral. Hydromet should begin shipments from its Mexican facility in the next sixty days.
Hydromet is preparing to commence operations at its Newman Facility to recover tin, selenium and platinum group metals from waste materials to be shipped to the company from various steel companies, circuit board manufacturers and mining company byproducts.
A spokesman for the company said the Illinois facility should be operational within the next several months.Latest from Recycling Today
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