MTM Critical Metals Achieves 100% Gold Recovery from E-Waste

About MTM Critical Limited

MTM Critical Metals (ASX: MTM), founded in 2001 and headquartered in Perth, Western Australia, MTM Critical Metals is a dual ASX- and OTCQB-listed company advancing next-generation metal recovery technologies and exploration projects for battery and critical metals. The company’s core asset is its exclusive licence to the Flash Joule Heating (FJH) process, developed by researchers at Rice University, which enables rapid and sustainable recovery of precious, base, and critical metals from e-waste. MTM also holds exploration interests in niobium, rare earths, and gold across Western Australia and Québec. The company’s shares are currently trading at $0.15 per share.

Breakthrough in E-Waste Metal Recovery

In recent laboratory testing, MTM processed metal-rich printed circuit board waste and achieved exceptional results: 100% gold recovery at 551 grams per tonne (g/t), 97% silver recovery at 2,804 g/t, and high recovery rates for copper (91%), tin (97%), zinc (99%), and titanium (100%). These figures are significantly higher than conventional mined ore, where gold grades typically range between 1–5 g/t.

The FJH process rapidly heats e-waste to over 3,000°C using electrical pulses, converting metals into water-soluble chlorides without the use of acid or smelting. This clean, single-step method eliminates the toxic waste and energy intensity associated with traditional recovery techniques and offers near-total metal recovery from multiple types of e-waste.

The tested material was derived from U.S. electronics including cell phones, laptops, and data servers, and was pre-processed to remove plastics, leaving a concentrated metal-rich residue ideal for MTM’s FJH process.

Long-Term Supply Agreement De-Risks Commercialisation

MTM’s U.S. subsidiary, Flash Metals USA Inc., has signed a binding Letter of Intent (LOI) with Dynamic Lifecycle Innovations, one of the largest recyclers in the United States, to supply a minimum of 700 tonnes per year of printed circuit board-rich e-scrap. The agreement spans five years, with renewal options and penalty clauses for under-delivery, ensuring reliable feedstock supply for MTM’s future U.S. processing operations.

The feedstock will include high-, medium-, and low-grade e-waste, with a pricing model based on market-indexed scrap values and actual metal content. This flexible, performance-linked structure aligns both parties’ interests and guarantees that MTM pays for only the recoverable metals.

This agreement forms the backbone of MTM’s commercial rollout strategy in the United States and supports plans to establish a demonstration FJH processing plant in Texas by the end of 2025.

Strategic Interest from U.S. Department of Defence

MTM has engaged in discussions with the U.S. Department of Defence regarding its e-waste recovery technology. The DoD has expressed interest in the strategic value of MTM’s process for recovering critical and precious metals domestically—particularly as geopolitical risks increase and the U.S. seeks to secure local supply chains for key materials used in electronics, defence systems, and energy storage.

This potential alignment with government priorities enhances MTM’s credibility and positions it as a future strategic partner in the U.S. critical minerals supply chain.

Environmental and Economic Impact

Globally, e-waste contains over US$60 billion in recoverable materials each year, but less than 20% is currently recycled. MTM’s approach not only addresses this gap but does so in an environmentally responsible way. The FJH process eliminates the need for harsh chemicals, consumes significantly less energy than smelting, and does not produce acidic or toxic byproducts.

In comparison to conventional pyrometallurgical and hydrometallurgical techniques, FJH offers a faster, cleaner, and more efficient solution. It is highly scalable and capable of handling diverse e-waste streams—including both raw and pre-processed materials—making it commercially attractive for widespread adoption.

Next Steps and Outlook

MTM’s immediate focus is on finalising the definitive supply agreement with Dynamic Lifecycle Innovations, building on the strong framework already established under the binding Letter of Intent. The company is also advancing pilot-scale testing to demonstrate the scalability of its Flash Joule Heating technology across a broader range of e-waste feedstocks. In parallel, MTM is progressing detailed planning for its first U.S.-based demonstration plant, which is targeted to be commissioned in Texas by the fourth quarter of 2025. Additionally, the company is actively engaging with potential commercial partners and stakeholders across the United States, Japan, Taiwan, and Europe, where interest in sustainable and high-efficiency metal recovery is accelerating.

With breakthrough technology, secured feedstock, and growing global demand for sustainable metal recovery, MTM Critical Metals is poised to become a leader in the circular economy for electronics. Investors will be closely monitoring the company’s next steps as it transitions from innovation to execution in one of the world’s fastest-growing recycling sectors.