Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) (FRA:MRDN) has started a technical review of its proprietary process to sustainably extract rare earths from monazite, it said Tuesday.
The Medallion Monazite Process obtains valuable rare earths from the mineral sand by-product using a highly optimized, scalable and automated design which converts more than 95% of monazite feed into saleable rare earths.
Vancouver-based Medallion has hired Australian engineering consultants Simulus Engineers to complete a techno-economic assessment (TEA) that will combine results from previous testing, process simulation and trade-off studies that Medallion has compiled over the years.
One study completed recently highlighted the US Gulf Coast as a potential operating environment for the first Medallion Monazite Process facility.
Rare earth element magnet supply chain utilizing the Medallion Monazite Process
Medallion is also working on an independent assessment of emerging and embedded technologies for rare earth element separation with the goal of bringing on a permanent partner. Nearly 20 possible technology providers have been selected within four technology clusters, and discussions with potential rare earth element separation providers have started to assess any business opportunities.
“Medallion has been building towards this critical step over numerous years and has developed a disruptive and innovative process,” said Mark Saxon, Medallion’s CEO in a statement. “Simulus is an ideal choice for this independent assessment of the Medallion Monazite Process as they delivered our comprehensive chemical process model and have a good breadth of rare-earth element expertise. We look forward to sharing study outcomes as they arise.”
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