Meteoric Resources (ASX:MEI) and MTM Critical Metals (ASX:MTM) have signed a memorandum of understanding to collaborate on the downstream processing of mixed rare earth carbonate from the Caldeira Rare Earth Project in Brazil.
Under the non-binding deal, both companies will expand downstream processing and separation of mixed rare earth carbonate (MREC) from Caldeira, into separate rare earths using MTM’s Flash Joule Heating (FJH) technology.
Both companies will evaluate the technical and commercial feasibility of applying MTM’s FJH technology to upgrade Meteoric’s MREC into high-value rare earth chloride intermediates.
The companies will also explore how FJH-based processing can be integrated with Meteoric’s broader downstream strategy, as well as consider potential arrangements for downstream refining.
As part of the deal, the companies will support engineering and process development activities needed to assess commercial deployment options, alongside sharing technical data to assess the viability of a long-term processing relationship.
During the 12-month term, MTM will not enter into any other commercial arrangements for the application of the FJH technology to third-party ionic rare earth clay projects in Brazil without Meteoric’s prior written consent.
This news comes after the completion of MTM’s proof-of-concept testwork using its FJH technology on a sample of Meteoric’s MREC product.
MTM reports the test showed a chloride-based refining pathway that concentrated valuable magnet and heavy rare earths, including neodymium, praseodymium, dysprosium, and terbium.
The testwork also demonstrates a pathway that separated more than 80% of low-value materials from the valuable magnet rare earths in a single, un-optimised flash, as well as the recovery of 81% of terbium.
CEO Michael Walshe says in a single flash, the company shifted the product mix decisively toward the high-value magnet rare earths, dramatically lifting material value while stripping out waste.
“Subsequent multi-flash runs are anticipated to further improve performance,” Walshe says.
MTM Critical Metals is a dual-listed rare earths company that specialises in advanced metal recovery technologies. The company has management teams in Perth and Texas.
Meteoric Resources is an Australian explorer focused on progressing its Caldeira Rare Earth Project which has a global resource of 740 million tonnes @ 2,572 parts per million (ppm) total rare earth oxides (TREO) at a 1,000ppm TREO cut-off grade.
Write to Aaliyah Rogan at Mining.com.au
Images: Meteoric Resources
