MTM Critical Metals (ASX:MTM) has signed a memorandum of understanding with Vedanta, one of the world's largest aluminium producers, to develop innovative solutions for Red Mud (bauxite residue) recycling.
The partnership aims to extract valuable metals and explore their potential use in low-carbon cement production.
Vedanta is a global metals and mining conglomerate with a market capitalisation of approximately US$20 billion ($31.70 billion) and 2024 revenues of US$17 billion ($26.94 billion).
MTM's proprietary flash joule heating technology presents a breakthrough in Red Mud recycling, offering an efficient method to extract critical metals such as iron, alumina, titanium, scandium, and rare earth elements.
With over 4 billion tonnes of Red Mud stockpiled globally, this initiative addresses an environmental and industrial challenge while unlocking new economic opportunities.
MTM has demonstrated that its FJH process can convert iron oxides in Red Mud into saleable ferric chloride, widely used in water treatment and electronics; enhance the concentration of critical metals, facilitating their economic recovery; and reduce environmental risks by neutralising Red Mud's alkalinity.
Under the non-binding agreement, Vedanta will supply Red Mud from its alumina operations for testing and evaluation, while MTM will apply its FJH technology to extract valuable metals and assess the material’s viability for industrial applications.
At the time of reporting, MTM Critical Metals' share price was $0.16.