Titanium Corporation Inc. is developing technology to recover heavy minerals and bitumen contained in the waste tailings streams from oil sands mining operations in the Athabasca oil sands region of Northern Alberta, Canada. Titanium Corporation's mission is to develop and build a commercial process that will maximize the inherent value existing in the waste material currently being deposited in oil sands tailings. The recovery of valuable minerals and additional bitumen from tailings represents an expanded opportunity that would also deliver important environmental and "value-added" benefits.
Alberta's oil sands contain an estimated 315 billion barrels (proven and probable reserves) of oil - enough to supply 100 per cent of Canada's petroleum needs for more than 40 years - with an additional trillion barrels soon to be in reach using new retrieval methods. By contrast, the entire Middle East holds an estimated 691 billion recoverable barrels of oil. A study published by the Alberta Chamber of Resources suggests that Canada's oil sands will be capable of producing as much as 5 million barrels per day.
With the recent growth in Canada's oil sands sector, there is an increased focus on sustainable development. There are currently four large oil sands mining projects in operation (Syncrude, Suncor, Albian Sands and Canadian Natural Resources Limited CNRL), one commissioning in 2112, the Imperial Oil Kearl and a number of projects under development. As mine-based oil sands production grows, tailings volumes containing minerals and bitumen are expected to increase proportionally.
For Titanium Corporation, processing waste tailings will result in a number of benefits to stakeholders. These include increased revenues, decreased environmental emissions, more effective use of existing resources and business diversification.
The Corporation's common shares are listed on the Toronto Venture Stock Exchange (TSX.V: TIC)