Mining company Maverick Metals , a provider of mining chemical solutions, has secured a $19 million funding round, led by Olive Tree Capital , as part of the commercialization of its LithX technology, an advanced lixiviant designed to improve the recovery of critical metals, such as copper, while reducing operating costs and environmental impact.
Recovery of critical metals with LithX
The company, which specializes in metal recovery from low-grade mineral resources, has established partnerships with major mining players to integrate this technology into real-world operations. Through LithX, Maverick Metals seeks to transform the processing of copper and other metal ores, potentially changing the game for an industry facing increasing challenges in the efficient and cost-effective recovery of essential metals.
With global demand for copper projected to double by 2035, securing the supply of critical metals has taken on a new urgency. Despite expanding mining operations, ore grade limitations, rising processing costs, and strict environmental regulations have hampered production growth. LithX™ emerges as a solution capable of maximizing copper recovery without the need for acid or subjecting ores to extreme temperatures.
Among its benefits, LithX™ has demonstrated improved mineral recovery and a significant reduction in reagent usage. It also enables the efficient extraction of valuable byproducts, such as gold, silver, and molybdenum, amplifying the value of the processed materials. In terms of sustainability, LithX™ operates at a neutral pH, minimizing environmental impact by not requiring the use of harsh acids.
By increasing recovery rates and making it economically viable to extract metals from previously uneconomic deposits, low-grade ores, and waste streams, LithX offers a practical solution for operators looking to maximize production and reduce OPEX.
Eric Herrera, co-founder and CEO of Maverick Metals.
The technology is also demonstrating its potential to optimize the extraction of other critical metals , such as lithium, gallium, and rare earth elements. This ability to unlock valuable metals from refractory ores and waste materials is crucial to strengthening North American supply chains.
With a significant investment backed by Olive Tree Capital and other strategic partners, Maverick Metals is well positioned to bring LithX to a broader audience. In addition to improvements in operational efficiency, the adoption of this technology could be key to ensuring the resilience of global supply chains for critical metals, securing essential materials for the future of the global economy.
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Source and photo: Maverick Metals / PDF
