White Mountain Titanium Corporation Markets today announced that it has signed of a letter of intent with Nexo Capital Partners to fund, construct and manage a desalination plant that forms part of White Mountain’s Cerro Blanco mining project in Chile.
NEXO is a U.S. private equity firm specializing in the business development of new technologies through project acquisition and technology-implementation opportunities.
“In keeping with our commitment to advance the Cerro Blanco mine project to a final engineering stage as quickly as possible, the early construction of the associated desalination plant has always been a top priority,” Michael Kurtanjek, president and chief operating officer of White Mountain, said. We look forward to our meetings with NEXO, who could bring not only the necessary finance to construct the desalination plant but also the technology which could significantly increase fresh water recoveries and the company’s return on investment.”
Under the letter of intent, the desalination plant will be built at no cost to White Mountain. White Mountain will supply the land, right of ways and environmental permit to construct the project and Nexo will provide the funding.
Nexo and White Mountain are meeting this week in Santiago and at the Cerro Blanco project site to review permit data and reports, tour both existing and planned facilities and infrastructure at the project site, and investigate options on how to create a corporate and working relationship to share the desalination plant.
