by Greg Klein | September 23, 2015
An initial 18-tonne cargo of jade left the southern British Columbia port of Tsawwassen for Shanghai, Electra Stone TSXV:ELT confirmed on September 23. On arrival, a ceremony will connect company management with buyers including jade carvers, manufacturers and resellers, as part of Electra’s strategy of building a vertically integrated jade mining and trading platform linking B.C. supply with Chinese markets.
“Shanghai is the first of many important regional markets for Electra,” said president/CEO John Costigan. “The similar geological environment in B.C. provides the conditions to produce the same nephrite jade in B.C. as the jade that has been sought after by the people of China for thousands of years.”
Nephrite is the type of jade originally used in China. As domestic supply ran out, the country began importing the more costly jadeite. More recently, decreasing supplies of jadeite have re-awakened interest in nephrite jade. Depending on its quality, it can be used for jewelry and carvings or for building materials.
Although Electra purchased and shipped the jade cargo to test Chinese markets, the company holds six jade properties totalling about 5,000 hectares in northern B.C., a province that supplies about 75% of the world’s nephrite jade. Company appointments, meanwhile, have added people with jade expertise to Electra’s board and staff.
The company also produces chalky geyserite, or aluminum silica, from its Apple Bay quarry on Vancouver Island. Earlier this month Electra joined a U.S. cement manufacturer in a co-operative drill program to assess expansion of the operation.