INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Kiril Mugerman.
“Waste red mud (RM), also known as bauxite residue, is formed as a by-product of the aluminum manufacturing process. Bauxite is the main raw material used in the commercial production of alumina (Al2O3) and aluminum metal,” says Kiril Mugerman, President & CEO of GeoMega Resources, (TSX-V: GMA), a rare earth clean technologies developer for mining and recycling, based in Montreal, Canada. “It is estimated that over 1.4 tonnes of bauxite residues are generated per tonne of alumina produced and as the demand for aluminum metal increases so does the production of bauxite residues.”
“Currently, less than 5% of bauxite residues are being reused but due to past environmental incidents, the International Aluminum Institute (IAI) set a goal to reuse 25% of bauxite residues by 2025. The technology developed by Geomega’s R&D subsidiary Innord is targeting approximately 80% reuse, significantly higher than the IAI target,” says Mugerman.
Bauxite residues are a potentially valuable by-product from which rare earth elements (REE) including scandium (Sc) and other critical and potentially valuable metals can be extracted.
Eliminating or significantly reducing the bauxite residues storage sites would extend the lifespan of the existing plants, help maintain jobs in the alumina refining industry that is under pressure to improve its environmental footprint and create new jobs associated with the new bauxite residues processing industry.
LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE:
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