Agreement with Altima to Produce Cheap & Clean Hydrogen in Alberta & British-Colombia

MONTREAL, QC / ACCESSWIRE / February 14, 2023 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to announce that its subsidiary H2SX and Altima Resources Limited (TSX-V: ARH) have entered into an agreement via a binding term sheet to move forward with the production of cheap and clean hydrogen (ccH2™) in Canada.

Altima has expressed its intention to use H2SX’s hydrogen production (ccH2™) and nano-carbon technology for the conversion of natural gas originating from gas & condensate wells in Alberta and British Columbia, Canada. H2SX will partner and will work on an exclusive basis with Altima in British Columbia and Alberta in the natural gas domain and for projects and companies that have traditional natural gas production of 65 MMcf/d or less.

In accordance with the provisions of the Terms (ccH2™) Altima will issue to H2SX 6,000,000 common shares upon the completion of milestones as set out in the performance shares schedule (the “Performance Shares“) below:

  • 2,000,000 shares to be issued upon delivery of a preliminary technological engineering report.
  • 2,000,000 shares to be issued upon receipt of a detailed engineering report tailored to Altima’s initial project.
  • 2,000,000 shares upon the delivery of a Preliminary Economical Assessment or a Prefeasibility Study.

These shares will be subject to such further restrictions on resale as may apply under applicable securities laws. The close of the issuance of shares is subject to further review and acceptance by the TSX Venture Exchange.

In addition to the issuance of Performance Shares, Altima has committed to the construction of a hydrogen processing facility utilizing the patented technology. Altima will fund and be co-operator of the hydrogen production plant(s) in relation to the gas wells it currently operates and in the future. One hundred percent of all capital expenditures will be reimbursed to Altima prior to any profit sharing between the joint venture parties.

Altima will be responsible to provide and manage the natural gas input into the joint venture operations and all infrastructures and logistics associated with it and will receive credits for the sale of hydrocarbons to the green hydrogen operation through this producing joint venture.

H2SX and its partner will be entitled to receive a 5% NRR for which a long form royalty agreement (the “Royalty Agreement“) will be executed and will be an integral part of the Joint Venture Agreement between the parties; A formal management structure for the anticipated joint venture will be put in place between the parties.

“(…) We look forward to working with H2SX in moving this exciting zero greenhouse gas (CO2) emission hydrogen production technology, into commercialization and for other prospective green tech opportunities that could benefit from utilizing low-cost green hydrogen (…)” said Joe DeVries, President & CEO of Altima Resources.

“(…) Alberta and British Columbia are strategic locations for H2SX. They will benefit from our low-cost, zero greenhouse gas (CO2) emission hydrogen production technology just as we will benefit from the low costs of their natural gas. A perfect synergy between Altima and us for the benefit of all. The production of cheap and clean hydrogen will spark a multitude of other opportunities such as the production of methanol, ammonia, or fertilizers (urea) with a very low environmental footprint. We can only be excited to start this collaboration with Altima as soon as possible (…,)” said Sabin Boily, CEO of H2SX.

________________________________________________________________________________________________________________________

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS

Director & COO

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies under the symbol SXOOF. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

SOURCE: St-Georges Eco-Mining Corp.

Botswana’s Longtime Diamond Deal With De Beers Under Threat

GABORONE, BOTSWANA — Botswana’s president, Mokgweetsi Masisi, is threatening to walk away from a diamond mining deal with industry giant De Beers unless the firm offers better terms. Under the current deal, which expires in June, Botswana – Africa’s largest diamond producer – is entitled to purchase up to 25% of the stones mined in a joint venture. Analysts say Botswana is in a strong position to push for a 50-50 arrangement.

Addressing ruling party supporters in his home village of Moshupa, just outside Gaborone, President Mokgweetsi Masisi said his country is well positioned to push for a better deal with De Beers.

“We now know how the diamond industry operates. We used to receive 10% of the stake, but now, under my leadership, we are receiving 25%,” he said.

Botswana currently earns about $4.5 billion per year in sales, taxes and royalties from its contract with De Beers.

Masisi says if negotiations with the South African diamond company break down, then Botswana is prepared to pull out of the long-standing arrangement.

“We are dealing with a giant. It is the first time it has been shaken like this. We want what is ours. This is our company, we want a majority stake, and we are doing so through negotiations. If the talks become difficult, we will say, no, let everyone pack and go separate ways,” he said.

It is unclear what other options Botswana might have, but a Belgian-based researcher on diamond mining, Hans Merket, says there could be an alternative.

Merket notes President Masisi’s praise for another supply arrangement between private diamond miner Lucara, which operates a mine in Botswana, and Belgian-based buyer, HB Antwerp.

The two entered into an agreement, which sees HB Antwerp purchase all of Lucara’s large high value diamonds.

“Botswana’s President Masisi has regularly praised the business arrangement between HB Antwerp and Lucara. In the current arrangement with De Beers, Botswana fears it is missing out on the profits from its diamonds, because it has no idea of or control over how much value the country’s rough production generates further down the supply chain after it is cut and polished,” he said.

Merket therefore suggests Botswana could be looking for a much more beneficial arrangement similar to Lucara and HB Antwerp’s.

“The business model between HB Antwerp and Lucara closes this gap through a vertically integrated supply chain that generates that allows all parties, including the government, to share in the profit from the final polished products,” he said.

The leader of Botswana’s main opposition party, Dithapelo Keorapetse, recently told parliament that the government needs to be more transparent with its mining deals.

“Mining agreements are not even available to the auditor general as they’re considered to be confidential, especially for Debswana or companies with partnership with the Botswana Government. Who then guards the guardians? Who scrutinizes these agreements? What is the role of parliament?”asked Keorapetse.

A 10-year sales agreement between Botswana and De Beers expired in 2021 but was extended to June 2023, pending negotiations.

Source: Voice of America

State of Disaster on Energy to resolve load shedding: Gungubele

Minister in the Presidency, Mondli Gungubele, says the declaration of the National State of Disaster on Energy will assist in the speedy resolution of energy supply challenges, whilst minimising its impact and contributing to the rebuilding process.

Addressing Tuesday’s debate on this year’s State of the Nation Address (SONA), Gungubele said many sectors would benefit from the stable energy supply, leading to the creation of much-needed jobs.

Eskom has been battling to keep the lights on for the past few months, leading to increased stages of load shedding and a devastating impact on lives, livelihoods and businesses.

Last Thursday, President Cyril Ramaphosa declared a State of Disaster as a response to the current energy crisis gripping the country.

At the State of the Nation Address, the President explained that the declaration will enable government to “provide practical measures” to assist businesses that have been devastated by the effects of load shedding.

Where technically possible, it will also enable government to exempt critical infrastructure, such as hospitals and water treatment plants, from load shedding.

It will enable government to accelerate energy projects and limit regulatory requirements while maintaining rigorous environmental protection, as well as procurement principles and technical standards.

Furthermore, a Minister of Energy in the Presidency is expected to be appointed to focus solely on bringing the country out of the current energy deficit.

Prior to the declaration, government had already been working on ending load shedding, as the President announced a plan to address the crisis in July 2022.

The plan was developed through extensive consultation and endorsed by energy experts as providing the best and fastest path towards energy security.

Since the plan was announced, there has been important progress in implementing the Energy Action Plan.

“As we stabilise the grid for the current economic environment, we must not forget that in the future, carbon intensity will be one of the key factors that affect the ability of our country to produce and trade in the global economy.

“To this end, there are several large initiatives that have taken off and should be scaling up in 2023/24, such as the implementation of the Green Hydrogen Strategy.

“South Africa’s Hydrogen Society (HySA) Roadmap spans for the next 10 years. Thus far, nine out of the 19 green hydrogen implementation projects that were identified have been successfully registered with Infrastructure South Africa,” Gungubele said.

Government records tangible results

Gungubele said this year’s SONA signals many rays of possibilities and an imminent end to a rather devastating period, which was ushered in by COVID-19, catastrophic floods, serious cases of corruption and maladministration that were laid bare at the State Capture Commission, and the energy crisis.

“As a result, we are witnessing the resurgence of the economy with our growth figures for the third quarter of 2022 at 1.6%; growth in the investment profile of the country and an increase in developmental projects.

“We are more than 95% of the way to reaching the goal of attracting R1.2 trillion in investments set by the President in 2018,” the Minister said.

He said the Presidency, as the apex of government, continues to play an important role in coordinating interventions to accelerate the implementation of government’s programme of action.

“We set up Operation Vulindlela in October 2020 as an initiative of the Presidency and National Treasury to accelerate structural reforms. Our focus is on reforms that are fundamental and transformative; that reshape the way our economy works.

“After a 10-year delay, last year we concluded the auction of high-demand spectrum, enabling substantial new investment in telecommunications. The spectrum auction collected more than R8 billion in revenue for the fiscus.

“In 2022, we established the Transnet National Ports Authority as a separate subsidiary of Transnet after a delay of more than 15 years. This was the necessary first step towards enabling independent oversight of ports, as well as the licensing of the 98 terminals in these various ports,” Gungubele said.

To improve the quality of water that is provided in communities, government has reinstated monitoring systems such as the Blue Drop, Green Drop and No Drop system for the first time since 2014.

“The dedicated capacity in the Presidency to reduce red tape is making progress. This includes work to ensure that government departments pay suppliers within 30 days. For an example, the Department of Planning, Monitoring and Evaluation takes an average of 10 days to settle invoices.

“Infrastructure South Africa (ISA), which is housed in the Presidency, is being positioned to serve as a single point of entry for all infrastructure projects and a custodian of the country’s infrastructure project pipeline,” the Minister said.

Several major infrastructure projects have been unlocked and will see great progress in 2023/24, for example:

The Rural Roads Project, which is critical in opening up rural economies and agro processing, focusses on road construction, upgrading and maintenance plans of provinces such as the North West, Limpopo and Free State;

The Welisizwe Rural Bridges Project where construction of 24 of the targeted 95 bridges has commenced, with a commitment to finish no less than 48 by the end of March.

The Umzimvubu Water Project, which has commenced with the construction of access roads to enable the construction of two dams. This project has now been reconfigured to make it easy for government to afford it and fund in phases thus starting with the Ntabelanga dam.

Source: South African Government News Agency

Campaign puts spotlight on substance abuse

The Department of Social Development is set to conduct an anti-alcohol and substance abuse campaign in Mpumalanga and the Northern Cape provinces.

The campaign in Mpumalanga will be held at the Middleburg Technical Vocational Education and Training (TVET) College on Tuesday and Wednesday.

In the Northern Cape, the campaign will be held at the Sol Platjie University on Wednesday and Thursday.

The campaign, which will run under the theme, ‘Protecting students against crime, substance abuse and gender-based violence’, seeks to raise awareness among students, who can sometimes diverge from their studies as a result of access to alcohol and drugs.

The department said this also serves as an opportunity for the department to educate, create awareness and disseminate anti-alcohol and substance abuse, as well as gender-based violence information, to students in institutions of higher learning.

According to the 2019 – 2024 National Drug Master Plan (NDMP), 58% of deaths on South African roads can be attributed to alcohol consumption.

It also reveals that nyaope / woonga (heroin and cannabis mix) and methamphetamine (tik) usage is gaining popularity among adolescents, with far-reaching effects on users, families and communities.

“Waging war against substance abuse is not government’s role alone and it is for this reason that the department works in collaboration with the relevant stakeholders, including community structures, as well as Institutions of higher learning.

“The abuse of alcohol and drugs is one of the contributing factors to the high prevalence of GBVF, which has been declared as the second pandemic in the country. Similar to GBVF, substance abuse has a negative impact on the lives and well-being of many South Africans, especially, vulnerable women, children and persons with disabilities, who are continuously victims of domestic violence and abuse,” the department said.

As part of building a caring society for all South Africans, the Department of Social Development is the custodian of the Prevention of and Treatment for Substance Abuse Act, No 70 of 2008, which mandates the department to develop programmes and support initiatives aimed at the prevention and treatment of substance abuse.

The Act exists to prevent usage, treatment of substance use disorders, as well as the reduction, production, and distribution of illicit drugs in South Africa.

Source: South African Government News Agency

Government continues to strengthen intelligence services

Government is working tirelessly to strengthen intelligence services and the coordination of the intelligence community so South Africa can avoid the recurrence of the July 2021 civil unrest and other similar incidents.

The widespread violent and civil unrest that engulfed parts of KwaZulu-Natal and Gauteng in July 2021 resulted in thousands of people being injured, an estimated 354 dead and over R50 billion lost to the economy.

“Fellow South Africans, it is a fact that we cannot build a developmental State when our security and intelligence services are not modernised and capable.

“One of the key commitments of the 2022 State of the Nation Address (SONA) was to address weaknesses identified by the Expert Panel into the July 2021 civil unrest,” Minister in the Presidency, Mondli Gungubele, said on Tuesday.

Addressing the debate on this year’s SONA at City Hall in Cape Town, he said the weaknesses identified include coordination between intelligence structures and bringing critical stakeholders together to tighten the working relations in the intelligence community.

“Since then, the [State Security] Agency has been hard at work meeting stakeholders like Provincial Executive Members, Mayors and Law Enforcement Agencies in an attempt to strengthen the working relations in this sector.

“The Agency continues to work within the National Intelligence Coordinating Committee (NICOC) early warning systems so that we avoid the recurrence of July and other similar incidents.

“This approach ensures that the intelligence communities, including the Agency, produce coordinated intelligence products, which are timeous, relevant, credible and reliable,” Gungubele said.

Other weakness identified by the Sandy Africa Report include capacity constraints, especially at leadership and management level in the State Security Agency (SSA).

“In this financial year, a lot of progress has been made in the filling of vacancies at senior management level. This is steadily assisting the Agency to stabilise and to perform at its maximum.

Upon receiving the Judicial Commission of Inquiry on State Capture Report, the SSA developed an implementation plan on those recommendations, which are of relevance to the Agency.

“A significant number of the recommendations of the Judicial Commission of Inquiry on State Capture and of the HLRP have been implemented. For instance, the process to disestablish the Agency into Domestic and Foreign Branches is at an advanced stage.

“The Bill, which seeks to amend the National Strategic Intelligence Act no 39 of 1994, Intelligence Services Act, no 65 of 2002 and other relevant Intelligence laws so as to, amongst others, disestablish the SSA will be submitted to Parliament before the end of the financial year.

“In the same period, in addition to the finalisation of the General Intelligence Laws Amendments Bill, the Agency will also introduce the Interception Bill and finalize the Cybersecurity Bill,” said Gungubele.

During 2023/2024 financial year, the SSA will continue to implement remaining recommendations of the HLRP and of the Judicial Commission of Enquiry into allegations of State Capture.

“The perception that nothing has been done to implement these recommendations is not accurate because out of the 73 recommendations from that report, 39 have been fully implemented and the rest are work in progress,” the Minister said.

Building an ethical and capable developmental State

Gungubele said government has placed public accountability at the centre of building an ethical and capable developmental state as set out in the National Development Plan, Vision 2030.

“To advance accountability the President has appointed various commissions to deal with corruption, to restore public trust and to restore the credibility of key institutions.

“The Commissions of Inquiry into Tax Administration and Governance at the South African Revenue Service resulted in an overhaul of SARS, and it being turned into one of the most efficient and well-performing public entities in this country,” the Minister said.

Last year, SARS broke revenue collection records, collecting over R1.2 trillion in revenues.

The Commission of Enquiry into the Public Investment Corporation (PIC) highlighted widespread abuses and governance failures at the PIC, and ongoing reforms are rebuilding the institution.

“The National Prosecuting Authority’s (NPA) Investigating Directorate (ID) has already begun preparing for trial cases emanating from the Commission of Inquiry into State Capture, and last year several arrests were made.

“The ID has enrolled 32 matters involving 187 accused persons. Six new matters, involving 22 accused have been enrolled since the President tabled his response to the State Capture Commission in October 2022,” he said.

The Presidency continues to work closely with the Special Investigation Unit to (SIU) improve the monitoring and coordination of referrals arising from SIU investigations.

“These SIU interventions are bearing fruit with some of the looted money being returned by multinationals and others. The SIU investigation into COVID-19 procurement (Proclamation R23 of 2020) has to date resulted in 456 referrals to accounting officers for disciplinary action.

“Sixty-three officials have been found guilty. [A total of] 476 referrals have been made to the NPA for possible criminal investigation and prosecution. Eight matters are currently in court, and two guilty verdicts have been handed down so far,” the Minister said.

In the current financial year, 16 new Presidential Proclamations have been issued to authorise new investigations by the SIU.

Cabinet has also approved the National Anti-Corruption Strategy that seeks to give more impetus to the ongoing work to address any weaknesses in programmes designed to fight corruption.

“All these are concrete examples that we are a government at work. We are strengthening the capacity of the state qualitatively and quantitatively,” the Minister said.

Source: South African Government News Agency