Phibion Poised for Expansion following Investment by RCF Jolimont
20th April 2021 – Australian based mining waste management technology provider Phibion, announced today that it has welcomed an investment by RCF Jolimont Mining Innovation Fund II-A L.P. (RCF Jolimont II) to accelerate global expansion. The investment by RCF Jolimont II will enable Phibion to expand its manufacturing facilities and global operations to meet the growing demand for its world leading mineral tailings dewatering technology, from an increasingly ESG aware mining industry.
Mineral tailings are the waste materials left over after the target mineral is extracted from ore. They consist of crushed rock, water, trace quantities of unextracted metals, and residual additives used in processing, which may be hazardous.
A large amount of tailings is generated during the extraction and processing of metals and minerals including iron ore, copper, aluminium, coking and thermal coal. The production of these metals and minerals is expected to drive strong growth in the mining waste management market in the coming years with the overall mining waste management market forecast to grow at a CAGR of 6.1% from 2017 to 2022, reaching 233.56 Billion Tons. * The tailings segment of this market is projected to grow at the highest CAGR during the forecast period. * Phibion operates in this growing market, as well as providing remediation of existing tailings storage dams.
Responsible management of mineral tailings is at the core of concerns around sustainable environmental management, impacts on society and the governance of mining operations. The recent catastrophic failures of tailings dams in Brazil have highlighted both the difficulty of the issue and the risks of conventional approaches.
Phibion has developed and commercialised the Accelerated Mechanical Consolidation (AMC) technology with its purpose-built dewatering tool called the MudMaster® (a twin Archimedes Screw Vehicle).Phibion designs, manufactures, supplies and operates MudMaster® machines which are used for in-situ dewatering and consolidation of mine tailings, improving the environmental performance of mining operations and reducing costs.
* Mining Waste Management Market by Mining Method (Surface, and Underground), Metals/Minerals (Thermal Coal, Coking Coal, Iron Ore, Gold, Copper, Nickel), Waste Type (Overburden/Waste Rock, Tailings, and Mine Water), and Region - Global Forecast to 2022- MarketsandMarkets
AMC reduces the volume of tailings requiring storage and allows the recovered water to be recycled reducing overall demand on water resources. Importantly, this is possible without the need for capital expenditure or significant changes to operational management.
David Smirk, founder of Phibion has welcomed investment from RCF Jolimont II which provides additional funding and expertise at a critical time in the Company’s growth. “Phibion has expanded operations into four countries and in multiple commodities. With strong demand for improved tailings management technology across the world the company is poised for further rapid expansion. With the RCF Jolimont II capital contribution and execution expertise, Phibion is well placed to meet rapidly escalating global demand,” said Mr. Smirk.
RCF Jolimont Director Lyle Bruce added “This award-winning technology is a unique and innovative departure from conventional thinking around management of mine tailings. RCF Jolimont seeks to support innovative businesses that are transforming mining, particularly around safety, productivity and environmental performance. We are excited by the opportunity to be part of Phibion and to help build a great business that improves the environmental performance of the mining industry.”
With the backing of RCF Jolimont II, Phibion will increase its manufacturing capability, increase research and development, and expand deployment of the technology creating new employment opportunities across the group.
RCF Jolimont’s Lyle Bruce and Andrew Jessett are joining the board of Phibion.
For further information contact David Smirk at Phibion
Phibion is an Australian environmental technology business that enables mining companies to enhance the sustainability of tailings management operations while reducing overall cost and environmental footprint.
Phibion provides Accelerated Mechanical Consolidation (AMC) technology as a systematic and low energy tailings management service that reduces tailings volumes while delivering enhanced water recovery. This technology provides immediate benefits with zero capital expenditure.
Based in Brisbane, Australia the company manufactures, supplies and operates the MudMaster® in Australia, Jamaica, Brazil and Chile and in a wide range of mining commodities. Further information about Phibion can be found on its website (www.phibion.com).
About RCF Jolimont
RCF Jolimont invests in high‐growth mining equipment, technology and services (METS) companies, assisting these companies to be globally successful. Mining companies rely increasingly on METS companies to provide incremental as well as step‐change solutions to improve safety, environmental performance, productivity and lower costs and RCF Jolimont invests in such companies, providing capital and expertise to enable growth.
RCF Jolimont is part of Resource Capital Funds, (“RCF”), a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 200 mining companies, with projects located in 51 countries and across 32 commodities. Further information about RCF can be found on its website (www.resourcecapitalfunds.com).