Flash Metals USA (“Flash Metals”), a subsidiary of MTM Critical Metals (ASX: MTM; OTCQB: MTMCF),

has achieved 98% recovery of antimony from U.S. electronic waste, extracting 3.13% of the critical element from printed circuit board feedstock using its proprietary Flash Joule Heating (FJH) technology. This grade far exceeds that of typical mined ore, where even the largest primary deposits (e.g. China’s Xikuangshan) average just 0.5–0.7% Sb. The tested feedstock — the same urban waste material from which Flash Metals previously reported ultra-high-grade gold, silver, and copper recoveries — highlights the untapped value of complex e-waste streams. 

The tested material — sourced from U.S.-origin printed circuit boards — had undergone upstream thermal processing to remove plastics and volatiles, yielding a concentrated, metal-rich carbonaceous residue. This “urban ore” contained 3.13% antimony, a grade more than three times higher than some of the world’s largest primary deposits, including China’s Xikuangshan, and significantly above the global mined ore range of 0.1–1.0% Sb (USGS, 2024).

These results demonstrate the technical and strategic value of Flash Metals' FJH process in recovering critical metals from e-waste, directly supporting U.S. efforts to re-establish domestic refining capacity. Recent discussions in Washington with U.S. government and Department of Defense (DoD) and Department of Energy (DoE) officials reinforced the national priority of onshoring antimony supply, further underscoring the relevance of Flash Metals' technology and approach. Importantly, Flash Metals has already secured over 1,100 tonnes per year of e-waste feedstock under long-term agreements with U.S. suppliers, separate from the material tested here — providing a strong foundation for commercial deployment.

MTM Managing Director & CEO, Michael Walshe, commented: “This result demonstrates the strong technical and commercial potential of our FJH process for recovering strategic metals from e-waste. Achieving 98% recovery of antimony at over 3% grade, from domestic urban feedstock, is particularly significant given the U.S. currently has no meaningful domestic antimony production. With antimony designated as a critical metal by both the DoD and DoE, these outcomes reinforce MTM’s ability to contribute to onshore supply solutions for high-priority metals. Combined with our recently secured, prepermitted demonstration site in Texas, we are well positioned to scale operations and advance commercial deployment. “In parallel, the Company is engaging with U.S. government agencies, including the DoD and DoE, regarding potential funding to support domestic critical metal recovery. While early-stage and non-binding, these discussions reflect strong interest in scalable U.S.-based refining technologies. The strategic role of antimony in defence, particularly in armour-piercing alloys and flame-retardant systems, was a consistent theme during recent meetings in Washington”.

“This result demonstrates the strong technical and commercial potential of our FJH process for recovering strategic metals from e-waste. Achieving 98% recovery of antimony at over 3% grade, from domestic urban feedstock, is particularly significant given the U.S. currently has no meaningful domestic Sb production,” said Steve Ragiel, President & Managing Director, Flash Metals. “With antimony designated as a critical metal by both the DoD and DoE, these outcomes reinforce Flash Metals' ability to contribute to onshore supply solutions for high-priority metals. Combined with our recently secured, pre-permitted demonstration site in Texas, we are well positioned to scale operations and advance commercial deployment. In parallel, the Company is engaging with U.S. government agencies, including the DoD and DoE, regarding potential funding to support domestic critical metal recovery. While early-stage and non-binding, these discussions reflect strong interest in scalable U.S.-based refining technologies. The strategic role of antimony in defence, particularly in armor piercing alloys and flame-retardant systems, was a consistent theme during recent meetings in Washington.”

• Single Flash Test: The initial, unoptimized test was conducted using samples of processed e-waste as described earlier. The feedstock was flashed in a chlorinated atmosphere to facilitate the formation and separation of metal chlorides and the vapourised products were collected via condensation into a mixed chloride solution. The Company is evaluating a range of downstream separation and refining options to convert the recovered chlorides into separated products, as required to meet potential commercial or end-use specifications. 

• Water Washing: After flashing, water washes were conducted to remove metal chlorides from the residual solids. TotalQuant Inductively Coupled Plasma Mass Spectrometry (ICP-MS) was used to quantify the metals in both the solid byproducts and the water wash solutions. 

• The metal grades in this feedstock are exceptional relative to traditional mining operations, and the recovery rates achieved are equally superior to those typically reported for legacy e-waste processing methods (Cui & Zhang, 2008; Tesfaye et al., 2017), as outlined in the Company’s 10 April 2024 e-waste recovery announcement. 

NEXT STEPS 

• Conduct broader sampling across multiple e-waste batches to verify repeatability of Sb enrichment 

• Evaluate downstream refining pathways to produce further refined Sb products 

• Advance engagement with U.S. government agencies, industrial end-users, and critical metals stakeholders focused on securing domestic sources of strategic metals like antimony. 

For further information, please contact: 

Lauren Condoluci

Lauren@distinctiveedge.partners

About Flash Metals USA
Flash Metals USA, headquartered in Houston, Texas, is a wholly owned subsidiary of MTM Critical Metals, a publicly traded Australian company. Flash Metals specializes in advanced metal recovery technologies and possesses exclusive licensing rights to the innovative Flash Joule Heating (FJH) technology, developed in partnership with Rice University in Houston. FJH is an advanced electrothermal process that enhances metal recovery and mineral processing compared to traditional methods. By rapidly heating materials in a controlled atmosphere, FJH efficiently extracts metals like lithium from spodumene, gallium from scrap, and gold from e-waste, among others. This technology has the potential to revolutionize metal recovery by reducing energy consumption, reagent use, and waste, offering a more economical and environmentally friendly alternative.

To learn more, visit: https://www.flashmetalsusa.com/