Heating up in a flash

MTM Critical Metals (ASX: MTM) is heating up in the hunt for energy transition enabling materials, such as niobium, rare earth elements (REE) and gold. 

With a primary focus on advanced metal recovery technology, MTM Critical Metals (ASX: MTM) is redefining how critical and strategic metals are recovered from complex waste and mineral feedstocks.  

Strategically located in Houston, Texas, US, and Perth, WA, MTM possesses exclusive licensing rights to the innovative Flash Joule Heating (FJH) technology, a cutting-edge metal recovery and mineral processing method developed by researchers at Rice University, US. 

The Australian Mining Review speaks with MTM Critical Metals managing director and chief executive Michael Walshe to uncover how the company is revolutionising mineral extraction, enhancing metal recovery from ores and waste materials and crafting sustainable solutions to global waste conundrums.  

A peek at MTM

MTM is focused exclusively on the commercialisation of its proprietary FJH technology, a breakthrough method for recovering critical and strategic metals from complex waste and mineral feedstocks. MTM is progressing a US-based demonstration plant and scaling a pipeline of feedstock partnerships across electronic waste, rare earth concentrates and industrial residues. 

The company’s strategy is centred on delivering a scalable, modular refining platform that addresses global supply chain vulnerabilities, with applications across defence-critical metals, battery materials, and high-grade metal recycling. MTM’s technology-first model positions it at the intersection of industrial innovation, sustainability and national critical minerals security. 

The brilliance of FJH

FJH is an innovative technology that utilises electrical resistance to almost instantly generate heat within materials. The process involves zapping a direct current through a material where the material’s own resistance converts electrical energy into heat energy. 

The results? Temperatures can skyrocket, sometimes surpassing a scorching 3000°C in mere milliseconds — hence the ‘flash’. This rapid heat-up triggers a range of physical and chemical transformations within the material, opening up a world of possibilities for metal recovery processes. These transformations can be particularly advantageous for metal recovery processes from ores, especially those that are refractory in nature and therefore more resistant to leaching and waste materials. 

Not only does this make for efficient, safe and environmentally friendly extraction, but it reveals pathways to precious critical minerals that weren’t previously available. 

“[Our technology is] essentially a much more elegant and efficient way to recover metals from feedstocks like electronic waste or mineral concentrates,” Mr Walshe says. 

“If we are targeting copper within electronic waste, the traditional smelting techniques will pull all metals and impurities into a soup of metals, and then you have to spend energy and capital and operational expenditure to separate those from one another. 

“[FJH] essentially uses temperature control and some chemistry and catalysts so that we only vaporise the metals that we’re after and don’t leave behind the unwanted stuff.” 

“In the lithium flowsheet for example, we can chop out nearly 70-75% of the steps in a traditional flow sheet and effectively go from about 28 steps down to about four.” 

Mr Walshe says the applications of FJH extend across the periodic table. 

“We’ve recovered gold, copper and tin and palladium from electronic waste and we’ve had success on the spodumene lithium concentrates and the REE concentrates,” he said. 

FJH could be the difference for elusive minerals that stubbornly resist traditional leaching techniques. MTM sees a world of potential.  

Mineral processing could see boosted economic and sustainability outcomes. With recycling, FJH could allow for improved metal extraction from electronic waste. In materials science, new approaches to processing and synthesising advanced materials could be unlocked.  

For the mining industry, FJH could lead to enhanced recovery of metals from refractory ores and tailings. It can also allow projects that were previously thought to be uneconomic to switch on. 

“[FJH] has very low capital expenditure compared to any traditional, similar operation,” Mr Walshe says. 

“We could potentially make an intermediate product even at small mines that have small deposits.” 

Looking ahead, MTM is looking to transition from prototype to full-scale production. The company has secured a site in Texas to construct a full-scale unit, with a commissioning target of December. A 1-5t/day system is also in the works, demonstrating the scalable nature of FJH. 

Meteoric results

MTM recently signed a memorandum of understanding with Meteoric Resources (ASX: MEI) following successful proof-of-concept beneficiation test work on Caldeira’s REE-rich mixed rare earth carbonate (MREC) product. 

The testwork achieved effective separation (more than 80%) of low-value lanthanum and cerium, which combined accounts for about 60% of the total MREC mass. It also achieved selective recovery of high-value neodymium and praseodymium into a combined chloride product and co-recovery of dysprosium and terbium, with pathways to further separation under development. There was also additional retention of the Samarium–yttrium suite (SEG REE) in a clean, concentrated residue, enabling additional downstream flexibility.
MTM says these results validate a chloride-based upgrading route for MREC, offering a scalable and modular alternative to conventional sulfate-leach and solvent extraction methods dominated by foreign-controlled facilities. 

Mr Walshe says the proof-of-concept work on Meteoric’s MREC clearly shows the transformative potential of FJH.  

“In a single flash we shifted the product mix decisively toward the high-value magnet rare earths, dramatically lifting material value while stripping out waste,” he said. 

“Subsequent multi-flash runs are anticipated to further improve performance. FJH therefore offers what could become the first Western, chloride-based
upgrading route for ionic-clay feedstocks, and we’re excited to progress this breakthrough with Meteoric.” 

The chloride-based upgrading route offers significant upgrades to water savings and tailings concerns. 

Traditionally, rare earth concentrates are treated using sulfuric acid to make rare earth sulfates. These rare earth sulfates are largely insoluble in water, meaning a significant amount of water is needed in the subsequent leaching steps. Increased tailings are created because of the calcium rich ore created, leading to gypsum tailings.  

In using chlorine rather than sulfur, MTM addresses these water consumption and tailings volume concerns. 

“The water savings should be quite significant, about 80% less waste and likely a similar reduction in tailings volumes,” Mr Walshe says. 

The technology also has the potential to enable more efficient recovery of metals from red mud tailings, a byproduct of bauxite processing into alumina. MTM is already on the front foot, having inked a memorandum of understanding with Vedanta, a global natural resources heavyweight, for potential collaboration in this area.

MTM also recently achieved 98% recovery of antimony from US electronic waste, extracting 3.13% antimony from printed circuit board feedstock using FJH.  

While used to improve the hardness and strength of other metals, antimony has also become increasingly popular for its use in military equipment, such as infrared missiles, nuclear weapons, night vision goggles and a hardening agent for bullets and tanks. 

The achieved grade far exceeds that of typical mined ore, where even the largest primary deposits average .5–.7% antimony.  

The tested feedstock — the same urban waste material from which MTM previously reported ultra-high-grade gold, silver and copper recoveries — highlights the untapped
value of complex e-waste streams. The tested material had undergone upstream thermal processing to remove plastics and volatiles, yielding a concentrated, metal-rich carbonaceous residue.
This recovery of critical metals from e-waste is in-line with US efforts to re-establish domestic refining capacity. Recent discussions with US Government and US Department of Defence (DoD) and Department of Energy (DoE) officials reinforced the national priority of onshoring antimony supply, further underscoring the relevance of MTM’s technology and approach, according to the company.  

Importantly, MTM has already secured over 1100tpa of e-waste feedstock under long-term agreements with US suppliers separate from the material tested here — providing a strong foundation for commercial deployment.
Mr Walshe says this result demonstrates the strong technical and commercial potential of MTM’s FJH process for recovering strategic metals from e-waste.  

“Achieving 98% recovery of antimony at over 3% grade, from domestic urban feedstock, is particularly significant given the US currently has no meaningful domestic antimony production,” he said. 

“With antimony designated as a critical metal by both the DoD and DoE, these outcomes reinforce MTM’s ability to contribute to onshore supply solutions for high-priority metals.  

“Combined with our recently secured, pre-permitted demonstration site in Texas, we are well positioned to scale operations and advance commercial deployment.
“In parallel, the Company is engaging with US government agencies, including the DoD and DoE, regarding potential funding to support domestic critical metal recovery.  

“While early-stage and non-binding, these discussions reflect strong interest in scalable US-based refining technologies.  

“The strategic role of antimony in defence, particularly in armour-piercing alloys and flame-retardant systems, was a consistent theme during recent meetings in Washington [US].” 

MTM’s innovative approach, marrying cutting-edge technology with resource diversity, could offer potential benefits for both company performance and global sustainability initiatives.  

The fusion of resource diversity, cutting-edge technology and a clear roadmap for the future places MTM Critical Metals in a unique spot within resource markets that is especially compelling as Australia and its allies look to strengthen sovereignty across supply chains.