Join our daily newsletter At The Bell to receive exclusive market insights
- Australian Mines’ (AUZ) scandium-aluminium project with Deakin University progresses to phase two, with plans for commercial trials
- From phase one, the partners identified new scandium-aluminium alloys which could improve industrial performance processes in the energy industry
- Now, the aim of phase two is to secure patent protection on successful trial alloys
- The project is supported by a $50,000 federal government Innovation Connections grant and $56,000 in funding through AUZ
- Shares are trading 4.5 per cent higher at 2.3 cents apiece at 10:13am AEST
Australian Mines’ (AUZ) Optimising of Scandium Containing Aluminium Alloys Project with Deakin University is progressing to phase two, with plans for commercial trials.
AUZ partnered with Deakin University in October last year to develop next-generation aluminium alloys containing scandium sourced from the company’s Sconi Project in Queensland.
Since then, AUZ’s research and development subsidiary, AML Advanced Materials has, in partnership with Deakin, completed phase one of the program with results identifying new alloys believed to improve industrial performance processes within the energy industry.
Now, the scandium-aluminium project will move to phase two which will involve commercial trials.
The aim of the next phase is to secure patent protection on any successful trial alloys, where Australian Mines will retain 100 per cent ownership of all resulting intellectual property.
AUZ said phase two would run for nine months and is also supported by a $50,000 federal government Innovation Connections grant and $56,000 in funding through Australian Mines.
Looking forward, Australian Mines Managing Director Benjamin Bell said the Sconi Project has potential to become a global supplier of high purity scandium.
“The Australian and USA Governments, as well as the European Union, have classified scandium as a critical commodity, the supply of which would enhance the existing and robust projected financial profile of the Sconi Project.
“Our work with Deakin University to develop new scandium enriched aluminium alloys aligns perfectly with our strategy to maximise the value that can be generated from the output of the Sconi Project, once it is fully developed.”
Shares were trading 4.5 per cent higher at 2.3 cents apiece at 10:13am AEST.
