Australia's MTM Critical Metals rises on MOU with India's Vedanta

Metallium

13/03/2025 24:07

** Shares of miner MTM Critical Metals MTM.AX rise 6.7% to A$0.16

** Stock marks its biggest intraday gain since February 12

** Co signs MoU with Indian aluminium firm Vedanta VDAN.NS for Red Mud (RM) recycling via its Flash Joule Heating (FJN)technology

** Tests at MTM's Houston facility reveal FJH efficiently converts RM's iron oxides into saleable compounds - MTM

** Adds that the process also improves iron-to-alumina ratio for cement additive use and reduces environmental risk by neutralising RM's alkalinity

** MTM shares down 42.3% YTD, VDAN shares nearly flat with minor gains of 0.1% YTD, as of last trade

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))