ATI has secured right to approximately 2 million tons of tailings material located on private and federal properties in the historical Magdalena mining district located in Socorro County, New Mexico, about 65 miles south of Albuquerque and 30 miles west of Socorro.
ATI has partnered with Advanced Materials Processing Inc. (AMPI), a California-based processing company, to investigate potential to produce commercial, natural, bio-mineral, nutrient-rich fertilizer from the tailings material using AMPI’s patented processing technology (Magdalena Project).
In March 2020, Americas Tailings and AMPI incorporated a joint venture company, Magdalena Green Commodities Inc. (MGCI), in New Mexico.
In June 2020, a federal Rural Business Development Grant (RBDG) was awarded by the US Department of Agriculture to confirm certain feasibility aspects of the project. The PEA-level study will be completed in 2Q 2021, with development work to repurpose the historical tailings sites targeted to begin in 2022.
ATI has initiated discussions with potential customers for the fertilizers, and plans to advance discussions with investor groups during 1H 2021.
