Pollucite is a rare caesium mineral found in extremely differentiated LCT pegmatite systems. The world’s supply of pollucite is highly constrained, and Pioneer’s discovery is potentially of very significant value, prompting interest from a number of international parties interested in offtake. Pollucite is primarily used in the manufacture of Caesium Formate brine, a high density fluid used in high temperature/high pressure oil and gas drilling. It acts as lubricant and helps deliver higher production rates, and is non-corrosive and environmentally-friendly.
The principal Caesium Formate manufacturer and dealer is Cabot Corporation (NYSE: CBT), through its Cabot Speciality Fluids division. Caesium Formate provides a number of well documented benefits including, minimal damage to the hydrocarbon-bearing formation resulting in higher production rates, where it acts as a lubricant, is non-corrosive and is considered an environmentally-friendly benign chemical when compared to alternatives. Caesium in principal commercial usage is the non-radioactive isotope.