Multinational Rio Tinto has announced its partnership with Canadian clean technology company Geomega on bauxite waste recycling technology.
Specifically, Geomega Resources specializes in the development of clean technologies for mining, refining, as well as the recycling of rare earths and other critical materials. Recently, its wholly owned subsidiary signed a term sheet with Rio Tinto to enter into a development agreement for bauxite tailings iron phase products. As part of the agreement, Rio Tinto will provide $1 million in funding for Innord to complete the work and subsequent small-scale closed-cycle pilot plant at its Boucherville facility.
In addition to funding a $4 million pilot plant and feasibility study for a sustainable and comprehensive valorization of bauxite residues, Rio Tinto and Innord agreed to begin evaluating in parallel several opportunities to monetize the iron compounds produced by Innord’s bauxite residue technology (IBRT). As part of the project, over the next 12 months, Innord will develop and test an extension technology for IBRT to produce the desired product that will then be evaluated by Rio Tinto.
“We are excited to further expand our cooperation with Rio Tinto on bauxite waste. Iron is the largest component of bauxite tailings, and we believe this stream holds the keys to successful implementation of Innord’s comprehensive and sustainable valorization of bauxite tailings. This project will evaluate the value-added transformation of the iron compound produced using IBRT, creating potentially new and more profitable markets for this product. A successful project has the potential to increase the commercial viability of IBRT and contribute to its accelerated commercialization,” says Kiril Mugerman, president and CEO of Geomega and Innord.
The project will commence immediately and the definitive development agreement is expected to be finalized later this year.
