Livium has signed a term sheet with the University of Melbourne to secure exclusive global rights to use microwave technology in rare earths element (REE) extraction.
The collaboration will enable the design and construction of a prototype described as an “Australian first”, which aims to create greater energy efficiency in mineral extraction.
Recovery rates of the technology include greater than 95 per cent neodymium and 80 per cent praseodymium – with potential to increase that further – with an estimated 85 per cent energy reduction relative to technology currently being used.
An additional benefit is the opportunity for Livium to expand its recycling service offering due to its existing exposure to REE end-of-life supply chain and existing infrastructure.
The technology is said to be a promising solution in replacing tradition REE extraction due to its efficient, rapid and sustainable heat transmission, with mineral extraction done through “enhancing chemical reactions and altering the morphology of minerals” – which is understood to be key in selectively recovering rare earth elements.
“This is a significant step in our strategy to broaden out recycling capabilities and meet the growing global demand for REEs,” Livium chief executive officer Simon Linge said.
“Our core competencies are the safe collection and pre-processing of e-waste and many of our current and emerging lithium-ion battery customers are exposed to REE waste. Initially, this allows us to secure the waste stream either directly to customers or for processing through technology.”
The two parties are said to be currently working on a binding IP licensing agreement which will give Livium the exclusive rights to commercialise the technology for the next 20 years.
It’s understood the global REE market is expected to grow to $US7.3 billion by 2026.
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