Flash Metals USA (“Flash Metals”), a subsidiary of MTM Critical Metals (ASX: MTM; OTCQB: MTMCF), is pleased to announce a landmark Memorandum of Understanding (MOU) with Vedanta Limited (“Vedanta”) (NSE: VEDL), a leading global aluminium producer, to apply its proprietary Flash Joule Heating (FJH) technology for Red Mud (RM) recycling — extracting critical metals and investigating its potential in carbon-reduced cement production. Vedanta, a powerhouse in aluminium, zinc, copper and energy with world-class operations like the Lanjigarh Alumina Refinery in Odisha, India, continues to invest in innovative ways to manage RM5 . Testing of Vedanta’s RM feedstock in Flash Metals’ facility in Houston, Texas, has shown that the FJH process provides an efficient, single-step process that: 

1. Transforms RM’s iron oxides into saleable FeCl3, a compound widely used in water treatment and electronics, while also optimising its iron-to-alumina ratio so that it is more amenable to be used as an additive for cement. 

2. Concentrates the RM in metals like alumina, titanium, and gallium, paving the way for their economic recovery.

3. Reduces environmental risks by neutralizing Red Mud’s alkalinity. 

Vedanta’s Deputy CEO – Red Mud, Sangita Sadafule, remarked: “Vedanta’s primary goal regarding Red Mud is the maximisation of its bulk utilisation using processes that have both positive techno-economic attributes, and the potential to increase net alumina yields from bauxite processing”. 

MTM Managing Director & CEO, Michael Walshe, commented: “This MOU with Vedanta represents a major breakthrough for Flash Metals in the global aluminium industry where no commercially viable recycling solution currently exists for Red Mud. With billions of tonnes of Red Mud stockpiled globally, our FJH technology unlocks its potential — initially producing a product suitable for green cement, with a subsequent “Stage 2” focus on recovering valuable critical metals”. 

ABOUT VEDANTA LIMITED 

Vedanta Limited is a global resources powerhouse with a market capitalization of ~US$20 billion and FY2024 revenues of ~US$17 billion. Vedanta is India’s largest aluminium producer and a globally significant company in metals and mining, with operations spanning aluminium, zinc, copper, iron ore, and oil & gas. Flash Metals operates one of the world’s largest alumina refineries in Lanjigarh, Odisha, and has actively explored Red Mud (RM) utilization strategies as part of its sustainability initiatives.

Beyond its scale, Vedanta is also at the forefront of industrial sustainability, ranking among the top companies in the S&P Global Corporate Sustainability Assessment. Flash Metals is committed to pioneering solutions for waste valorization, circular economy initiatives, and carbon footprint reduction — making it a leader in responsible resource development. 

The MOU with Vedanta represents a landmark partnership for Flash Metals, providing a direct pathway to commercialize its FJH technology at scale within the aluminium industry. With Vedanta’s vast operational footprint and commitment to sustainable innovation, this collaboration has the potential to redefine how bauxite residue is handled, transforming it into a source of strategic metals and a potential feedstock for ‘green’ cement.

MEMORANDUM OF UNDERSTANDING DETAILS – VEDANTA & Flash Metals RED MUD COLLABORATION 

Under a non-binding MOU, Flash Metals will collaborate with Vedanta, one of the world’s largest aluminium producers, to develop Red Mud (bauxite residue) reprocessing solutions using FJH technology. The partnership aims to recover valuable metals, including iron, alumina, titanium, scandium, and REEs, and repurpose Red Mud for industrial applications such as “green cement”. FJH offers a groundbreaking alternative to traditional disposal and reprocessing methods by providing a simplified, efficient solution for iron removal whilst also providing the possibility to recover residual valuable metals. 

OBJECTIVES OF THE COLLABORATION 

• Feedstock Supply: Vedanta will supply bauxite residue (Red Mud) from its alumina operations to Flash Metals.  

• Metal Recovery & Red Mud Repurposing: Flash Metals will apply its proprietary technology to extract valuable residual products from the feedstock, and examine its potential for reuse in other industrial processes.  

• Future: the parties intend to negotiate agreements for: the supply Red Mud processing technology; formal processing, supply, and offtake contracts post successful trials; and a potential technology licensing agreement. 

ROLES AND RESPONSIBILITIES 

Flash Metals: Conduct prototype-scale testing and proof-of-concept trials on Vedanta-supplied Red Mud. 

Vedanta : Supply Red Mud feedstock from its alumina operations. 

TERM AND TERMINATION 

This MOU will remain in effect for 12 months from the signing date unless extended by mutual agreement. 

CONSIDERATION 

There are no financial obligations or payments stipulated under this non-binding MOU. The collaboration is structured to assess technical feasibility and commercial viability, with potential future agreements to define any financial considerations, including feedstock supply, processing costs, revenue-sharing, and licensing arrangements. There is no material financial impact to Flash Metals from this transaction and all material terms are included in this announcement.

STRATEGIC IMPACT AND MARKET OPPORTUNITY

Red Mud (RM), a byproduct of the Bayer process, is generated at a rate of over 140 million tonnes annually worldwide, with an estimated 4 billion tonnes currently stockpiled — surpassing traditional metal reserves in scale. This waste material contains up to 50% iron oxides, along with approximately 1.2 billion tonnes of alumina, 690 million tonnes of titanium, and 690,000 tonnes of gallium. However, the recovery of these valuable metals remains economically unviable due to inefficient and costly processing methods, until now.

RED MUD (BAUXITE RESIDUE) - A GLOBAL CHALLENGE AND OPPORTUNITY 

Red Mud, also known as bauxite residue, is an industrial byproduct generated during the Bayer process, which refines bauxite into alumina for aluminium production. This highly alkaline waste contains a complex mix of oxides and valuable metals, making both its storage and potential reprocessing a significant focus for industry and sustainability efforts. 

Globally, an estimated 140–160 million tonnes of Red Mud is produced annually (See Fig. 3 above), with total stockpiles projected to exceed 10 billion tonnes by 2050. The sheer scale of accumulated residue presents both an industrial challenge and a strategic opportunity. Currently, <1% of Red Mud is reused, with the majority stored in large containment ponds or disposal sites, creating long-term storage risks. 

Work is underway to develop commercially viable solutions that both reduce the volume of material in long-term storage and unlock its economic potential. 

Efforts are increasingly focused on: 

1. Extracting critical metals such as iron, alumina, titanium, scandium, rare earth elements (REEs), and gallium, which are vital for high-tech industries, batteries, and aerospace applications. 

2. Utilising Red Mud in industrial applications, including green cement production, where it can replace limestone clinker to reduce CO₂ emissions. 

3. Advancing innovative processing technologies such as Flash Joule Heating to selectively extract valuable metals while stabilising the remaining residue. 

With growing demand for critical minerals and sustainable waste management, Red Mud reprocessing is emerging as a key area for technological breakthroughs and industry partnerships, potentially transforming this waste into a valuable resource for the future.

STAGE 1: RED MUD AS A CEMENT ADDITIVE - TECHNICAL CONTEXT AND ADVANTAGES 

Red Mud’s value in cement lies in its post-Bayer process composition — rich in alumina, silica, and calcium oxides, which supports pozzolanic reactions for cement strength. A pozzolan is a siliceous or aluminous material that, mixed with water and calcium hydroxide, boosts cement durability. This enables Red Mud to partly replace clinker — the kiln-fired limestone-clay core of cement, potentially lowering carbon dioxide intensity and environmental impacts.

Technical Rationale: Cement needs a 1:1 Fe2O3:Al2O3 ratio for quality. Flash Metals have successfully utilized FJH to reduce the iron content of Red Mud’s (up to 50% Fe2O3) and recover the iron as to ferric chloride (FeCl3). Moreover, sodium was removed optimising it for use as a cement additive. Sodium is the primary cause of the Red Mud’s causticity and hazardous nature. 

Raw unprocessed Red Mud (and raw bauxite ore) issues for use as a “green cement” additive:  

• Color: Excess iron causes a red tint, unfit for grey cement.  

• Chemistry: High iron disrupts hardening, weakening concrete and generates other operating issues within the kilns.  

• Cannot be used as a “green cement” additive in large volumes due to the high iron content (typically having an approximate 3:1 Fe2O3:Al2O3 ratio). The issue is even more pronounced for raw bauxite ore. 

Clinker Alternative: Replacing clinker with iron-reduced Red Mud potentially cuts limestone calcination emissions (which account for a significant ~8% of global CO2 emissions.

STAGE 1 FJH TEST RESULTS: IRON REDUCTION & GREEN CEMENT SUITABILITY 

Flash Metals utilized FJH technology at Flash Metals’ lab in Houston, Texas, to process Red Mud residue supplied by Vedanta. The FJH process successfully reduced the iron content of the raw feedstock (~ 50% Fe2O3; ~ 19% Al2O3, 5% TiO5 by mass) such that the resultant product had an Fe₂O₃:Al₂O₃ ratio of ~1, aligning with the desired target for cement applications, where this ratio optimizes both cement chemistry and color. The ability to fine-tune the composition of Red Mud through FJH presents a significant opportunity to transform this industrial byproduct into a high-value cement additive. 

TEST SETUP: 

• Chlorination in the presence of proprietary catalysts was performed within the FJH reactor to enhance iron removal.  

• The resultant “post-flash” solids had an Fe₂O₃:Al₂O₃ ratio of ~1, aligning cement application requirements.  

• See Appendix for further information

NEXT STEPS - STAGE 2: RECOVERING CRITICAL METALS FROM RED MUD 

Following the initial production of a Red Mud product suitable for green cement, our subsequent efforts will focus on optimising the FJH process for complete iron removal and subsequent residual metal recovery. By fully extracting iron, a cleaner feedstock is generated for downstream processing. This paves the way for the targeted extraction of high-value residual metals, including aluminium, titanium, scandium, Rare Earth Elements and gallium. 

By refining the process to maximize metal recovery, additional economic value is unlocked while further reducing Red Mud volumes, reinforcing sustainability and critical minerals supply security. With iron removed, the residual alumina content is expected to increase significantly, potentially exceeding 30 – 40%, depending on the initial composition of the Red Mud. This higher alumina content enhances the economic viability of further processing, creating new opportunities for refining and reintroducing alumina into industrial supply chains.

INDIAN GOVERNMENT INITIATIVES 

India is the world’s second-largest alumina producer, generating approximately 6 million tonnes of alumina annually, which results in a significant Red Mud resource byproduct. With over 15 million tonnes of Red Mud produced each year, the challenge of long term management continues to grow. Simultaneously, India’s cement industry, the second-largest globally, produces over 400 million tonnes of cement annually, with demand expected to rise due to rapid urbanization and infrastructure expansion. By further integrating Red Mud resources into cement production, India has a unique opportunity to reduce reliance on mined raw materials, lower CO₂ emissions, and improve resource efficiency. 

India’s government backs Red Mud reuse to mitigate environmental hazards and promote sustainability. The “Waste to Wealth” initiative, led by NITI Aayog, encourages its use in cement to reduce waste and emissions. While Section 80JJA of the Income Tax Act targets biodegradable waste, broader policies support hazardous waste solutions like Red Mud — deemed hazardous due to alkalinity, fostering a circular economy.

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/