Medallion Resources takes steps to develop chemical process model
Simulus, an Australian engineering consulting group, will develop the company’s chemical process model to extract rare-earth element concentrate from monazite sand.
Medallion Resources Limited (CVE:MDL) (OTCMKTS:MLLOF), the magnet metals producer, is pushing ahead with its plans to set up a North American rare-earth element extraction plant and has hired Simulus Engineers to help guide its efforts in introducing a chemical process model.
The Canadian company says that Simulus, an Australian engineering consulting group, will develop the chemical process model to extract rare-earth element (REE) concentrate from monazite sand.
The company is aiming to produce rare earth elements (REE) by sourcing and processing the mineral sands by-product monazite, which is rich in the REE elements neodymium and praseodymium, also known as NdPr, which is used in powerful magnets.
“Using the by-product mineral monazite from the US, we can help meet the increasing military and commercial demands for the key rare-earth magnet metals ‘NdPr’ in the near term,” says Medallion CEO Don Lay.
“This work helps us to define the engineering specifications and the related capital and operating cost estimates for our proposed North American extraction plant,” Lay added.
Medallion is developing a method of low-cost, rare-earth element (REE) production by exploiting monazite, a rare-earth phosphate mineral which is available as a by-product from mineral sand mining operations.
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