Geomega and Rio Tinto Sign a Joint Development Agreement and Demo License on Bauxite Residue Valorization Technology

Executive Summary

• Geomega Resources Inc. (via subsidiary Innord Inc.) entered into a Joint Development Agreement with Rio Tinto to advance its Bauxite Residue Valorization Technology.
• The agreement provides for up to $4.5 million in payments to Geofence (including $1.4 M in 2025 and $100 k early‑2026, plus potential $3 M contingent on construction of a demonstration plant).
• The partnership could enable Rio Tinto to reduce the environmental footprint of alumina refining while extracting valuable critical minerals (REEs, titanium) from bauxite residue, positioning Geomega for future commercial licensing and royalty revenue.

Key Details

• Parties: Geomega Resources Inc. (wholly‑owned subsidiary Innord Inc.) and Rio Tinto.
• Agreement Scope: Joint Development Agreement covering engineering studies and a demonstration license for “Circuit 1” and “Circuit 2” of Geomega’s Bauxite Residue Valorization Technology; potential construction of a demonstration plant in Saguenay, Quebec.
• Financial Terms:
• Up‑front payments of $1,400,000 to be received in 2025.
• Additional $100,000 payable in early 2026.
• Potential further $3,000,000 contingent on Rio Tinto’s decision to proceed with plant construction, for a total possible consideration of $4,500,000.
• Technology Benefits:
• Reduces bauxite residue storage requirements.
• Enables extraction of Direct Reduced Iron (DRI) grade ore, rare‑earth element (REE) concentrate, and titanium concentrate.
• Intellectual Property: Geomega retains ownership of all background and foreground IP related to the Technology; Rio Tinto receives a demonstration license only.
• Engineering Support: Geomega will deliver a basic engineering package and provide ongoing engineering support during project execution, plus test work using various bauxite residue feeds from Rio Tinto’s global operations.
• Strategic Impact: The agreement is described as a “major step” toward commercial licensing of the Technology and supports Geomega’s vision to become a leading technology‑royalties company focused on critical and bulk metals extraction.
• Government Support: Both Quebec and Federal governments have provided significant support, enhancing the R&D environment for sustainable technologies in Canada.

Notable Quotes

“This is a major step for Geomega towards commercial licensing of our Technology… By working with one of the world’s leading aluminium producers, we have the opportunity to demonstrate the robustness of our process and pave the way toward commercial deployment in Quebec, Canada and then globally.” – Kiril Mugerman, President & CEO, Geomega

“This new joint development agreement sets out a clear path to demonstrate to what extent Geomega's technology can contribute to address one of the global aluminium industry's greatest challenges…” – Josette Ross, General Manager, Rio Tinto Aluminium’s Arvida R&D Center