Industrial gas giant
Air Products & Chemicals Inc.
) announced that its Air Separation Unit (ASU) technology is now
being used at the world's largest pressure oxidation (POX) gold
production facility in Pueblo Viejo, Dominican Republic. Air
Products teamed with Hatch Ltd and Pueblo Viejo Dominicana
Corporation (PVDC) for the sale of equipment.
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The collaboration designed a plant by combining Air Products' two
2,000 ton per day (TPD) cryogenic oxygen units to fulfill the
complex operating needs of PVDC's advanced pressure oxidation
technology used for gold extraction at the facility. The
integrated 4,000 TPD oxygen units will act as the largest
single-site oxygen requirement plant for POX application. This
marks the second set of oxygen plants which the company has
supplied into the Dominican Republic over the last few years for
Apart from the equipment sale, Air Products also provided
training to the PVDC operations team through its Customer Plant
Support after-market services group.
PVDC is a joint venture between
Barrick Gold Corporation
). Barrick holds a 60% ownership of PVDC with Goldcorp owning the
remaining 40% stake. Air Products worked with Hatch as a
subcontractor and Barrick in the design, building and
commissioning of the facility's equipment. The Pueblo Viejo site
has a potential gold reserve of over 25 million ounces and a
projected mine life of more than 30 years.
Air Products' products and services strategically focus to meet
the needs of the mining industry. The company's wide range of
products and services includes industrial gases supply, operating
and maintenance services for gases plants, merchant gas supply
where available, and amines for flotation requirements.
Currently, Air Products owns and operates over 300 air separation
plants in over 40 countries globally. The company also sold,
designed, and built more than 2,000 air separation plants
Air Products retains a short-term (1 to 3 months) Zacks Rank #2
Another company in the chemical industry worth considering is
Akzo Nobel NV
), which retains a Zacks Rank #1 (Strong Buy).