Altamin Limited (AZI: ASX), a mineral company focused on base and critical metals exploration and brownfield mine development in Italy, has announced it will receive a A$3.62 million grant as part of a research project funded by the Italian Ministry of Environment and Energy Security. The grant supports Altamin’s participation in the Geothermal Brines for Innovative Supply of Critical Raw Material (BRAIN) project, in partnership with RINA S.p.A. and the University of L’Aquila.
The BRAIN project, with total eligible expenditure approved at EUR 2.825 million (A$5.045 million), aims to test the scale-up of an innovative process to produce commercial-grade Sulphate of Potash (SOP), lithium, and boron using geothermal energy at Altamin’s Lazio project. The Lazio project is located at Cesano, approximately 30 km north of Rome. The refundable grant will cover eligible expenditure by the research project partners.
According to Altamin, the BRAIN project’s studies will also include a full Environmental Impact Assessment and a lifecycle assessment (LCA) to evaluate environmental impacts, aligning with EU sustainability goals and Italian environmental laws. The project supports the supply chain objectives of the EU’s Critical Raw Materials Act (CRMA).
Geraint Harris, Altamin’s CEO, expressed enthusiasm about the partnership and the project’s potential to advance Italy’s leadership in brine separation technologies. He also acknowledged the efforts of Altamin’s team in securing this non-dilutive funding. The BRAIN project aims to improve raw material extraction, technological development, and knowledge dissemination within Italy and the broader European Union, potentially increasing European self-sufficiency in critical raw materials.
