London-based Fodere Critical Minerals could be eyeing off a US stock exchange listing in the first half of next year after reportedly moving towards securing feedstock for a proposed “pre-commercial plant” in Mississippi that would demonstrate its patented hydrometallurgical and pyrometallurgical extraction technology.
Listed stakeholder Jangada Mines said 7.8%-owned Fodere had engaged an unnamed US investment bank to lead a US$10-15 million pre-IPO financing. Targeted for completion by the end of October 2026, that would be a precursor to a planned public listing.
Jangada says Fodere has signed a memorandum of understanding with titanium dioxide major Tronox to source feedstock material from Tronox’s big TiO2 plant at Hamilton in Mississippi. A supply arrangement would “simplify processing and reduce technical risk” for Fodere, which has hired former Tronox senior vice president Melissa Zona as chief operating officer to work alongside US-based Fodere CEO Jeff Quinn.
Fodere’s immediate priorities were to complete an engineering review of the proposed Mississippi plant, finalise its design and costs and advance the Tronox arrangement. It also sees possibilities for US government funding.
Its extraction platform would be set up to recover a range of metals from difficult-to-treat waste and other feedstocks.
The Mississippi plant was designed to “demonstrate the Fodere process at commercially relevant scale and establish the technical and economic basis for larger projects”.
