Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) (FRA:MRDN) has announced the completion of a suite of diagnostic test work at the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney to extract rare earth elements (REE) from mineral sand monazite.
The company said the monazite was sourced from an Australian mineral sand mine and discussions are ongoing with additional prospective suppliers.
Mineral sand monazite is an abundant REE-rich feedstock that can be accessed as a by-product from global mineral-sand mines that target zirconium and titanium — without the need for additional mining.
Medallion said its business model is centered on the Medallion Monazite Process, a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value REEs with high efficiency, high recovery, and zero liquid waste.
The company noted that ongoing test work is focused on correlating low-cost “diagnostic” mineralogical and chemical data from “run of mine” monazite, sourced from operating mines and prospective producers, with extraction results from the Medallion Monazite Process. This growing data bank will ensure optimal process conditions can be anticipated for all monazite sources and optimal sites identified for a Medallion Monazite Processing hub.
The diagnostic test work builds upon research completed by Medallion over the past five years in Saskatchewan, while ANSTO’s deep experience in REE-processing and mineral sand monazite makes it an unrivalled research partner for Medallion’s ongoing work.
Medallion said it utilizes Life Cycle Assessment (LCA) as a tool to help reduce the environmental and CO2 impact of REE production wherever possible. Processing mineral-sand monazite close to the source presents the most sustainable solution versus long-distance transport.
The company noted that as Australia, South East Asia and the Indian Ocean region remain the dominant global sources of mineral sand monazite, expanding research networks in the region with partners like ANSTO could lead to future business opportunities.
“The study we have just completed at ANSTO enables us to be increasingly predictive toward REE- extraction and separation process conditions,” said Medallion CEO Mark Saxon in a statement. “By acquiring a simple set of data from monazite suppliers, we can be predictive on the process conditions, costs and quantity of market-ready REE products.”
Techno-economic assessment update
Medallion also said it is finalizing a Techno-Economic Assessment (TEA) and LCA for the Medallion Monazite Process utilizing independent consultants. These studies draw together Medallion’s engineering, financial, and environmental impact data and will become the foundation of Medallion’s technology execution strategy.
But the delivery of the TEA has been affected by coronavirus (COVID-19) staffing restrictions within consulting service providers. Results are now anticipated by mid-May 2021.
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Story by ProactiveInvestors
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