US-based Boston Metal has announced that it has commissioned its first molten oxide electrolysis (MOE) facility under its Brazilian subsidiary Boston Metal do Brasil in order to recover high-value metals from mining waste.
According to the statement, this development is considered to be a huge milestone since the company is trying to commercialize MOE for green steel in 2026.
Boston Metal’s MOE technology uses electricity to extract valuable metals from low-concentration materials that are considered waste. This process will enable mining companies to reduce financial liabilities and environmental effects.
“As proud as we are today, this is only the beginning. Our high-value metals business will expand rapidly and will support us as we scale our MOE platform to meet the growing global demand for green steel,” Boston Metal CEO Tadeu Carneiro stated.
The company had received fundings from a number of companies including Aramco Ventures, global investment manager M&G Investments, natural resources investment company Goehring & Rozencwajg and investment management firm Baillie Gifford for this project, as SteelOrbis reported previously.