Mining Technologies International and Hy-Drive expand partnership.

• Position: AROUND THE NORTH

A new Memorandum of Understanding (MoU) has been struck between Mining Technologies International (MTI) and Hy-Drive Technologies Ltd., expanding their existing technology and distribution partnership by adding five international territories to the agreement.

Under the MoU, MTI will have the rights to represent Hy-Drive's Clean Burn Technology in the mining markets of the European Union, Switzerland, Norway, Russia and the Commonwealth of Independent States.

The MoU also increases MTI's minimum requirements for Hy-Drive products, bringing its current level of 600 units to 2.000 within the next 36 months.

"MTI is greatly encouraged by the positive response Hy-Drive technology has received from the...