Medallion Resources has provided a summary of an independent Techno-Economic Assessment (TEA) for its proprietary process that enables sustainable extraction of rare earth elements (REE) from mineral sand monazite.
The TEA was done by process engineering and simulation specialists Simulus Engineers (Australia). The Medallion Monazite Process is a proprietary method and related business model to achieve low-cost REE production utilizing mineral sand monazite. Monazite is a rare earth phosphate mineral available as a by-product from heavy mineral sand mining operations.
The Medallion Monazite Process is developed by utilizing process intensification principles. It has an automated design that is transferable to many global locations and scalable in size as REE demand grows. Medallion has recently paired this process with patented REE separation technology developed by Purdue University. It has invested with Purdue to gain an exclusive license for its Ligand Assisted Displacement (LAD) chromatography, which maximizes recovery and cuts cost. The process, however, has not been modelled in the TEA.
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