Metallium (ASX:MTM) announced that its US subsidiary, Flash Metals USA, has signed a binding letter of intent with ElementUSA to collaborate on the recovery of gallium and scandium from red mud at the Gramercy alumina refinery in Louisiana.
The agreement includes up to US$10.1 million in non-dilutive funding for the deployment of Metallium's flash joule heating technology, which will support the development of a demonstration facility for critical metal extraction.
Under the LOI, Metallium will receive technology license fees, per-tonne processing royalties, and revenue sharing on metals recovered, with a long-term commercial framework established for potential future plants.
ElementUSA, a US critical minerals company, will leverage its critical resource accelerator in Texas to advance processing technologies, while the Gramercy site offers more than 30 million tonnes of red-mud feedstock and strategic infrastructure, including deep-water port access.
At the time of reporting, Metallium's share price was $0.83.