Highlights

  • ZMI is developing two hydrometallurgical technologies, ARGO and VOLTA, through its subsidiary Meclex.
  • ARGO targets germanium, gallium, indium and silver from zinc leach residue, with a pilot phase targeted for 2027.
  • VOLTA, for lead-acid battery recycling, has a commissioned pilot plant and granted patents.
  • ZMI had pro-forma cash of A$7.1 million at 30 June 2026.

Zinc of Ireland Limited (ASX:ZMI) has released an investor presentation outlining its strategy to recover critical mineral value from industrial waste. The company is developing two proprietary hydrometallurgical technologies through its wholly owned subsidiary, Meclex.

ARGO: Recovering Metals from Zinc Residue

ARGO is designed to process zinc leach residue, a major by-product of zinc smelting, at about 90°C, compared with more than 1,300°C for current high-temperature processes. It targets germanium, gallium, indium and silver.

The technology has reached Technology Readiness Level 4, verified by Belgian research centre Solvomet, and testwork has reported up to 99% silver, 100% lead and 91% copper recovery. ZMI estimates that zinc leach residue carries a disposal cost of about US$400 per tonne and contains about US$5,000 per tonne of metal value before recovery and processing costs. A pilot phase is targeted for 2027.

VOLTA: Lead-Acid Battery Recycling

VOLTA processes spent lead-acid batteries at below 90°C, using under 0.5GJ of energy per tonne, compared with 900 to 1,100°C and 2 to 4GJ per tonne for conventional processes. The company reports more than 99% lead recovery with no SO2 or lead emissions.

VOLTA is at Technology Readiness Level 6, with a pilot plant commissioned and patents granted. Italian industrial group SERI Industrial is funding the pilot and holds an exclusive regional licence for its European rollout, while Meclex retains ownership of the patents.

Partnerships, Market and Capital Position

ZMI has a non-exclusive cooperation agreement with zinc producer Nyrstar, covering a route to market, a potential initial offtaker and development support. The company is focusing first on Europe, where it says more than 400,000 tonnes of zinc leach residue are generated each year.

ZMI has about 1,465 million shares on issue and a market capitalisation of about A$26.4 million at A$0.018 per share. It held pro-forma cash of A$7.1 million at 30 June 2026, including A$3.0 million in net placement proceeds.

Key Takeaways

  • ZMI is pursuing lower-temperature technologies to recover metals from industrial waste.
  • VOLTA is further advanced, with a pilot plant operating, while ARGO is targeting a pilot phase in 2027.
  • Partnerships with Nyrstar and SERI provide industry support for commercialisation.