Summary of the news:
- Completion of an extensive Process Engineering Design project for the extraction of REE from monazite sand, including detailed process flow diagrams and full waste management solutions.
- Project provides the requirements for a Techno-Economic Assessment that will define economic considerations for a US-based REE operation.
- Sites and trade-off studies are now being evaluated in the US for prospective plant locations. Once complete, Medallion will progress to plant engineering, with a specific capacity and location.
- Medallion’s plant feedstock is by-product monazite sand, an REE mineral rich in rare-earth magnet metals, essential for high-strength magnets required to power EVs and hybrids.
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