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MTM Critical Metals (ASX:MTM) has inked a Memorandum of Understanding (MoU) with New York-listed aluminium producer Vedanta Ltd which will now see MTM’s proprietary ‘Flash Joule Heating’ technology applied to recycling “red mud.”
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This “red mud” is also known as bauxite residue, a residual waste product.
The latter process is attractive to Vedanta not only because it allows critical metals to be extracted, but also for the potential for carbon-reduced cement to be produced.
Tests have been carried out at MTM’s facility in Houston, showing a single-step process applied to Vedanta’s RM feedstock can turn iron oxides into saleable FeCl3 – a compound applicable to water treatment and electronics – in addition to optimising its iron-to-alumina ratio so it’s more useful as a cement additive.
Alongside this, the process allowed the RM in metals like alumina, titanium, and gallium to be concentrated, opening the door to a process of economic recovery.
Finally, putting the red mud through a process of FJH also neutralises its alkalinity, lowering environmental risks.
Managing director and CEO Michael Walshe said the alignment of the two companies was an important step in recognition of this technology.
“This MOU with Vedanta represents a major breakthrough for MTM in the global aluminium industry where no commercially viable recycling solution currently exists for red mud,” he explained in the company’s market release.
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“With billions of tonnes of Red Mud stockpiled globally, our FJH technology unlocks its potential — initially producing a product suitable for green cement, with a subsequent ‘Stage Two’ focus on recovering valuable critical metals.”
MTM has risen 10% following the announcement; at 11:24pm it was at 16.5cps.
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