Overview of MTM Critical Metals announcement

MTM Critical Metals Limited (ASX: $MTM) has completed the construction of the Flash Joule Heating (FJH) prototype and commenced testing for the recovery of critical metals such as REE, lithium, and cobalt from various waste materials. The FJH technology was developed by William Marsh Rice University and MTM has secured the option for a global licensing agreement via the acquisition of Flash Metals Pty Ltd and FJ Processing Pty Ltd.

Executive commentary on flash joule heating prototype

MTM Managing Director, Mr Lachlan Reynolds, stated, 'The construction of the prototype is a key milestone in the ultimate commercialization of the FJH technology. This is an important part of the value that has been realized in the recent Flash Metals acquisition. With a growing global focus on supply chains and the sustainable production of key critical minerals, the development of the FJH technology has the potential to create significant value for our shareholders.'

Summary of MTM Critical Metals announcement

MTM Critical Metals Limited (ASX: $MTM) has completed the construction of the Flash Joule Heating (FJH) prototype and commenced testing for the recovery of critical metals such as REE, lithium, and cobalt from various waste materials. The ongoing test results will provide technical and performance data for MTM to progress towards a pilot scale FJH plant, opening channels to test waste material from potential commercial partners. The company is confident that the progression of the FJH technology will complement MTM's advancement of a portfolio of rare earth and critical mineral exploration assets across Australia and Canada. Negotiations are underway to finalize the worldwide exclusive licensing agreement, expected to be completed by the end of May 2024. The company's ambitions include the development of advanced technology such as FJH to meet the global focus on supply chains and sustainable sourcing of critical materials, creating significant value for shareholders.