MTM Critical Metals signs MOU with Meteoric Resources After Successful Proof-of-Concept Beneficiation Test Work on Rare Earth Element-rich Mixed Rare Earth Carbonate Product at Meteoric's Caldeira's Project in Brazil

Rhea-AI Summary

MTM Critical Metals (MTMCF) has signed a non-binding MOU with Meteoric Resources to process mixed rare earth carbonate from Meteoric's Caldeira Rare Earth Project in Brazil. The agreement follows successful proof-of-concept testing of MTM's Flash Joule Heating technology, which demonstrated remarkable results in processing rare earth elements. The innovative process concentrated valuable magnet and heavy rare earths, separated over 80% of low-value material from valuable magnet REEs in a single flash, and recovered 81% of terbium without using acids or solvents. This technology offers a potential breakthrough alternative to traditional Chinese-dominated rare earth processing methods, promising faster, simpler, and more cost-effective operations while supporting Western supply chain development.

Positive

• Technology successfully concentrated valuable rare earth elements in a single flash process
• Achieved 81% recovery rate for high-value terbium element
• Process eliminates need for acids or solvents, making it environmentally friendly
• Technology offers faster, simpler, and more cost-effective alternative to traditional processing methods
• Potential to reduce capital and operating costs while supporting Western supply chain independence from China

Negative

• MOU is non-binding, indicating preliminary nature of the agreement
• Technology is still in proof-of-concept phase, not yet commercially proven
• Current process shows unoptimized results, requiring further development

Revolutionary Flash Joule Heating Process Recovers High-Value Rare Earth Elements in a Single Flash from Ionic Clay

HOUSTON, June 17, 2025 /PRNewswire/ -- MTM Critical Metals (ASX: MTM; OTCQB: MTMCF) whose US subsidiary Flash Metals USA Inc. is commercializing the innovative Flash Joule Heating (FJH) technology, announced today it has signed a non-binding Memorandum of Understanding with Meteoric Resources NL to collaborate on the downstream processing of mixed rare earth carbonate (MREC) from Meteoric's flagship Caldeira Rare Earth Project in Brazil – one of the leading ionic clay REE projects progressing toward commercialization.

The MOU follows the successful completion of proof-of-concept testwork by MTM that uses the proprietary FJH technology on a sample of Meteoric's MREC product. The test demonstrated a chloride-based refining pathway that:

• Concentrated valuable magnet and key heavy rare earths – Nd, Pr, Dy, and Tb.
• Separated more than 80% of low-value material from valuable magnet REEs in a single, un-optimized flash.
• Recovered 81% of terbium, one of the rarest and highest-value REEs for critical defense and civilian technologies
• Did not require the use of acids or solvents.

The FJH process delivers results comparable to multi-stage solvent extraction, but is faster, simpler, rapidly deployable and modular, with potential to dramatically reduce capital, operating costs and deployment timeframes while supporting western supply chain development.

"Our proof-of-concept work on Meteoric's MREC clearly shows the transformative potential of Flash Joule Heating," said Michael Walshe, MTM Managing Director & CEO. "In a single flash we 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. We believe that our process offers what could become the first Western, chloride-based upgrading route for ionic-clay feedstocks."

Rare earth processing is typically complex, expensive and dominated by Chinese-controlled infrastructure. Most developers produce (or plan to produce) an MREC product, but then rely on established offshore solvent extraction refineries, which can involve hundreds – or thousands – of mixer-settler stages to reject low-value elements and purify high-value magnet metals such as neodymium, praseodymium, dysprosium and terbium to commercial specifications. "Flash Joule Heating offers a potential breakthrough alternative," Walshe affirmed.

Additional information on the testing is available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02957259-6A1268795&v=04711220c3a57065317ba4efca4a3459a4e46882

Flash Joule Heating was developed at Rice University and MTM's 100% owned USA subsidiary Flash Metals USA, Inc. has the exclusive licensing rights to this innovative technology. In addition to its use in beneficiation for rare earths, the technology can also extract metals such as lithium from spodumene, gallium, antimony, gold and other metals from e-waste. FJH has potential to revolutionize metal recovery by reducing energy consumption, reagent use and waste, thereby offering a more economical and environmentally friendly alternative. Additional information can be found at MTM's website: https://www.mtmcriticalmetals.com.au.

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SOURCE MTM Critical Metals Ltd.

FAQ

What is the significance of MTM Critical Metals' Flash Joule Heating technology for rare earth processing?

The technology can concentrate valuable rare earth elements without acids or solvents, achieving 80% separation of low-value materials and 81% terbium recovery in a single flash, offering a faster and more cost-effective alternative to traditional Chinese-dominated processing methods.

How does MTMCF's new rare earth processing technology differ from conventional methods?

Unlike conventional methods that require hundreds of mixer-settler stages and use acids/solvents, MTM's Flash Joule Heating technology achieves similar results in a single flash, making it faster, simpler, and more environmentally friendly.

What are the key benefits of the MOU between MTM Critical Metals and Meteoric Resources?

The partnership allows for downstream processing of mixed rare earth carbonate from Meteoric's Caldeira Project using MTM's innovative technology, potentially establishing a Western-based, chloride-based upgrading route for ionic-clay feedstocks.

What recovery rates did MTMCF achieve in their proof-of-concept testing?

The testing achieved over 80% separation of low-value materials from valuable magnet REEs and specifically recovered 81% of terbium in a single, un-optimized flash.

What other applications does MTM Critical Metals' Flash Joule Heating technology have?

Beyond rare earth processing, the technology can extract metals like lithium from spodumene, gallium, antimony, gold, and other metals from e-waste, offering potential for broader metal recovery applications.