Fast Metals is treating waste with more waste to extract critical minerals

Core Impact Points

• Fast Metals has developed a process to extract critical minerals like titanium, aluminum, and rare earth elements from red mud, a waste product of aluminum refining.
• The startup uses a waste stream from alumina refineries to make the process economical, reducing costs and increasing profitability.
• With a commercial contract in place, Fast Metals plans to scale up its process and treat one ton of red mud and refinery waste per week, starting later this year.
• The extracted minerals, such as titanium dioxide and scandium oxide, have significant market value, with prices ranging from $2.50 to $750 per kilogram.
• The startup's innovative approach could help reduce waste and create new revenue streams for the aluminum industry, with potential implications for the US market and economy.
• Fast Metals' technology has the potential to reduce the environmental impact of aluminum refining and promote a more circular economy.