Geomega, Rio Tinto sign joint development agreement

Executive Summary

• Geomega Resources’ subsidiary Innord Inc. entered a joint development agreement with Rio Tinto for bauxite‑residue valorisation technology, including a demonstration licence for circuits 1 and 2.
• The agreement provides Geomega with up to $4.5 million in payments ( $1.4 M in 2025, $0.1 M early 2026, plus up to $3 M contingent on construction of a demo plant).
• Successful engineering studies could lead to a demonstration plant in Saguenay, Québec, and enable Rio Tinto to extract DRI‑grade iron, REE concentrate, and titanium concentrate while reducing bauxite‑residue storage.

Key Details

• Parties: Geomega Resources Inc. (via wholly owned subsidiary Innord Inc.) and Rio Tinto Aluminium.
• Scope of JDA:
• Purchase by Rio Tinto of a demonstration licence for technology circuits 1 & 2.
• Engineering studies to assess feasibility of a demonstration plant in Saguenay, Québec.
• Geomega to supply basic engineering package, ongoing engineering support, and test work using diverse bauxite‑residue feeds from Rio Tinto operations worldwide.
• Financial Terms:
• Up‑front payments: $1.4 M payable in 2025.
• Early‑2026 payment: $100,000.
• Contingent additional payment: up to $3 M if Rio Tinto proceeds with construction of the demo plant.
• Total potential consideration: $4.5 M.
• Intellectual Property: Geomega retains ownership of all background and foreground IP related to the technology.
• Potential Benefits:
• Reduction in environmental footprint of alumina refining by decreasing bauxite‑residue storage.
• Recovery of direct‑reduced‑iron (DRI) grade ore, rare‑earth‑element (REE) concentrate, and titanium concentrate.
• Creation of a sustainable local supply chain for critical and strategic minerals in Canada.
• Future Outlook: Successful demonstration could lead to commercial licensing of the technology globally and position Geomega as a technology‑royalties company focused on critical metals extraction.

Notable Quotes

“This is a major step for Geomega towards commercial licensing of our technology… The partnership highlights the growing demand for sustainable solutions in managing industrial and mining residues.” – Kiril Mugerman, President & CEO, Geomega Resources Inc.

“The new joint development agreement sets out a clear path to demonstrate how our technology can address one of the global aluminum industry’s greatest challenges…” – Josette Ross, General Manager, Rio Tinto Aluminium Arvida R&D Centre.