Titanium Corporation has developed and patented innovative technologies to recover valuable commodities (bitumen, solvent, heavy minerals and water) from oil sands waste tailings. The benefits are twofold: recovery of valuable commodities that will provide economic value; and environmental benefits which will reduce the environmental impacts of the oil sands industry. The Company is working with industry and government to commercialize its Creating Value from Waste™ suite of technologies with the successful conclusion of the multi year demonstration pilot.
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 growth in Canada's oil sands sector, there is an increased focus on sustainable development. There are currently five large oil sands mining projects in operation (Syncrude, Suncor, Albian Sands and Canadian Natural Resources Limited CNRL, and Imperial Oil Kearl) and a number of projects under development. As mine-based oil sands production grows, tailings volumes containing minerals, bitumen and solvents 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)