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:: First Sub-licence of the Neomet Process
Neometals Ltd is pleased to advise that its wholly owned subsidiary Alphamet Management Pty Ltd has entered into the first sub- licence agreement for the application of the Neomet Process technology.
Subject to satisfactory pilot testing, the agreement will see the Neomet Process technology used at a steel mill in the Republic of Serbia to recover zinc, copper, iron, silver and lead from a new modular EAF Dust Processing plant.
The Company sees this agreement as a solid step forward in its strategy to develop and hold a portfolio of royalty interests from sub-licencing the technology in addition to deploying the process on its Barrambie Titanium Project.
Neometals has a Strategic Alliance with Australian Engineers, Sedgman Limited, to provide the platform for the commercialisation of the technology, at no cost to Neometals.
The sub-licence agreement will enable the technology to be applied by a third-party joint venture between a steel producer and a European investment group specialising in industrial waste processing for a proposed electric arc furnace dust processing plant. The modular plant will be co-located at the steel mill and seek to recover quantities of zinc, copper, iron, silver and lead through processing of electric arc furnace dust, that can have up to 35% zinc.
As was announced on 10 December 2015 and 18 April 2016, Alphamet is responsible for managing the commercialisation and development of the Neomet Process technology, and all revenue received from the commercialisation of the technology will be split 25:75 between Alphamet and the owners of the technology. Under the sub-licence agreement, the sub-licensee must pay a royalty on the gross proceeds of any minerals or metals produced from the plant using the Neomet Process technology. As the first sub-license the joint venture will receive a three-year royalty holiday in return for access to showcase the process to other prospective sub-licensees.
Neometals will keep the market informed as to progress with the Serbian project, including, subject to satisfactory pilot testing, a construction time frame once the joint venturers have secured an engineering, procurement and construction contract for the construction of the plant.
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