Ammtec (AEC)

Shares / Stock Code

AEC

Stock Exchange / Sharemarket

ax

Ammtec (AEC) is engaged in the supply of metallurgical and mineral testing services to the mining industry. Its services incorporate bacterial leaching, magnetic and electrostatic processing of mineral sands, specialised gold ore testing, heavy liquid separation, acid mine drainage and gravity processing.The Company generates revenue from consulting fees for metallurgical and mineral testwork. Ammtec listed on the ASX on April 28, 1994. AEC has its operations in Australia in Western Australia, New South Wales, South Australia and Tasmania. The Company offers its services in respect of test samples sourced from both Australia and abroad and all test work is done within Australia. Ammtec acquired a majority interest in Purity Systems Inc (PSI) in August 2007, hence giving Ammtec’s control and a 68.5% shareholding. PSI develops resins for the extraction of heavy metal from solutions on license from the University of Montana. Ammtec acquired MARC Environmental Solutions, a Western Australia-based engineering group in February 2008. MARC’s activities consist of designing laboratories and supply of laboratory equipment and dust and fume control systems to the mining and mining services.

AMMTEC's has varied customers which comprises many of Australia's key mining groups as well as a number of emerging resource companies. AMMTEC is well known for its quality and novelty. The Company’s reputation has played a key role in attracting work to AMMTEC from multi-national mining groups with projects located all over the world. In recent years the Company’s earnings are a result of contributions of overseas contracts.

Ammtec History

Ammtec was founded in 1979. It is one of the world’s leading metallurgical and mineral testing consultancies. The Company was listed on the Australian Stock Exchange ASX in 1994.