New Frontier Minerals (ASX:NFM) has entered into a binding commercial framework with Metallium (ASX:MTM) to create a novel processing pathway for the Harts Range Project in the Northern Territory.
Under the framework, New Frontier has agreed to Metallium having binding, exclusive, project-linked rights to apply its Flash Joule Heating (FJH) technology to all ore, concentrate or other feed from the project for a 10-year period, with an automatic rollover into production stage.
Upon commercial production of a dysprosium-terbium-rich product, Metallium will earn a 1.5% net smelter return royalty on sales of finished product and a margin for processing Harts Range feed through Metallium’s facility.
The structure includes a buy-back right allowing the project owner to acquire a portion of the royalty for a fixed amount.
New Frontier will align with Metallium’s stated next steps which comprise ongoing FJH testing and processing of the 25kg bulk sample from Harts Range into the Texas-based facility.
This news comes after the sample underwent Metallium’s proprietary FJH process. The total rare earth oxide content increased from 1.7% to 35% in a single reaction step, representing a 20x upgrade.
The delivery of a commercial term sheet for offtake or processing is expected by Q3 2026.
New Frontier Chairman Gerrard Hall says this is a “game-changing” event for the company, delivering a novel beneficiation pathway for heavy rare earth products and potential access to US magnet and defence customers.
“The board’s immediate priorities now comprise progressing the upcoming drilling campaign, which should provide considerable insights into the extent of heavy rare earth mineralisation at Harts Range; and working closely with MTM’s management team to rapidly formulate an overarching strategy and key processes necessary to rapidly advance the commercial framework,” Hall says.
Metallium’s FJH technology enables the extraction of high-value materials including gallium, germanium, antimony, rare earths and gold from feedstocks such as refinery scrap, e-waste, and monazite.
New Frontier Minerals is an Australian explorer focused on its multi-commodity assets that show future potential as an economic mining operation.
Write to Aaliyah Rogan at Mining.com.au
Images: Metallium & New Frontier Minerals
