Australian Securities Exchange-listed Livium says it is working towards executing a binding IP licensing deal with the University of Melbourne to commercialise its microwave extraction technology in the US$7 billion global rare earths market after signing a non-binding term sheet.
Livium wants to provide rare earth element feedstock to an Australian-first prototype microwave reactor designed and built in collaboration with a University of Melbourne (UoM) research team. Laboratory testwork is said to have achieved recovery rates of more than 95% for neodymium and above 80% for praseodymium with the latter seen to have potential to exceed 90% recovery with an oxidant.
Livium sees REE recovery with UoM’s microwave technology as potentially complementary to its core metal recycling business.
A binding IP licensing agreement would give it exclusive worldwide rights to commercialise the technology for the next 20 years.
Livium’s share price rose 25% on the announcement, capitalising the company at about A$31 million.
“Microwave heating is a promising solution for replacing traditional methods of REE extraction due to its efficient, rapid and sustainable heating transmission,” Livium said.
“Where traditional methods extract REE by acid leaching, solvent extraction and ion-exchange processes, microwave technology can enhance chemical reactions and alter the morphology of minerals, which is key to selectively recovering rare earth elements as well as other valuable metals such as copper, gold, vanadium and platinum group metals from metallurgical wastes.
“Studies at UoM to date have found that microwave technology can deliver high recovery rates at low energy consumption levels, with an estimated 85% reduction of energy consumption relative to hot block digestion technologies.”
