On October 18, 2011, Argex acquired a 50.1% interest in Canadian Titanium Limited (“CTL”) which is a private company which owns the process and underlying patents for the recovery and production of TiO2 from titanium-bearing ore.
CTL granted Argex an exclusive license in the Province of Quebec and a non-exclusive license for the rest of the world to use the process.
The metallurgical process allows us in one single process to extract TiO2 from the ore and produce high purity pigment grade TiO2 which can be sold to end users such as the paint and plastic manufacturers.
The metallurgical process is environmentally friendly do to its high energy efficiency and is a closed loop process. This process produces very low inert tailings which could ultimately be used by local construction industry as raw material.