SMAC to list on Toronto stock exchange

SMAC to list on Toronto stock exchange

Queensland-based SMAC (Strategic Minerals Acid Critical) Developments says that it plans to list on the Toronto Stock Exchange in December to raise $1.3 million to fund a final feasibility study. The company is attempting to develop sulphuric acid production in northern Queensland to supply local industries. The company plans to initially build a 180,000 t/a sulphur burning acid plant at a site at Cloncurry, followed by a second phase which would involve developing a pyrite roasting plant to generate 550-600,000 t/a of sulphuric acid.

Queensland faces a shortage of acid if the Glencore Mount Isa copper smelter closes down. Mount Isa produces around 1 million t/a of acid. Glencore says that the smelter is losing tens of millions of dollars per month, and in spite of an A$600 million bridging loan from the Queensland government, it is slated to close in 2028. The smelter is the main supplier of acid to Dyno Nobel’s Phosphate Hill facility, which uses up to 1.2 million t/a of acid. Aside from the Mount Isa supply, the balance comes from Sun Metals’ zinc smelter in Townsville. More acid could be required by the expanding vanadium industry in the state and copper leaching operations. Explosives company Dyno Nobel has said that it may cease operations at its fertiliser plant in September 2026 if a buyer is unable to be secured by March next year.