Bayan’s Yttrium Technology Achieves 14x Concentration Boost

Breakthrough in Yttrium Concentration and Purity

Bayan Mining and Minerals Ltd (ASX:BMM) has unveiled compelling bench-scale results from its Phase 1 Research Program at the University of Queensland, showcasing its licensed Yttrium Upgrade Technology's ability to dramatically increase yttrium concentration and purity. The ion-exchange resin-column process achieved up to a fourteen-fold increase in yttrium concentration and a two-fold purity upgrade compared to synthetic rare earth feed solutions, marking a significant step forward in rare earth element processing.

The technology employs a specialised iminodiacetic acid (IDA) functionalised resin to selectively exclude yttrium during the loading stage and preferentially strip it during elution. This dual-stage separation was consistently observed across six test runs, with optimal performance at elevated loading temperatures (70°C) and slower flow rates, underscoring the technology's robustness under various conditions.

Strategic Importance of Yttrium Amid Supply Constraints

Yttrium plays a pivotal role in advanced industries, underpinning AI and data centre infrastructure through its use in ultra-high temperature thermal barrier coatings and semiconductor manufacturing equipment. Global yttrium supply is heavily concentrated in China, which accounted for 93% of U.S. imports between 2020 and 2023. Since China imposed export restrictions in April 2025, yttrium oxide prices outside China have surged approximately 140-fold, with shipments remaining about 50% below pre-restriction levels.

Bayan’s technology aims to address this supply disruption by enabling new, ex-China sources of separated yttrium. The process is designed for capital-efficient integration into existing rare earth separation circuits, potentially producing dedicated yttrium product streams or simplifying heavy rare earth element (HREE) circuits.

Pathway to Commercialisation and Next Steps

Following these promising laboratory outcomes, Bayan plans to broaden its research by sourcing additional mixed rare earth carbonate (MREC) and HREE concentrate feeds from Australian and international developers. This expansion aims to validate the technology across a wider array of ore types and rare earth compositions, enhancing its commercial applicability.

The data generated will inform the design and scale of a pilot program, with the technology's modular nature supporting integration without requiring a full flowsheet redesign. This flexibility could provide a significant commercial advantage for customers seeking to upgrade existing infrastructure efficiently.

Looking ahead, Bayan intends to refine process parameters, test commercially significant feedstocks such as bastnaesite from the Mountain Pass deposit in California, and plan a Stage 2 Research Program with UQ to further develop the technology.

Independent Validation and Expert Leadership

The Phase 1 program is led by Professor James Vaughan and UQ’s Hydrometallurgy Research Group, bringing extensive expertise in ion exchange and critical minerals processing. The testwork independently confirms the yttrium-selective behaviour consistent with the patented method originally developed at the Colorado School of Mines and exclusively licensed to Bayan.

CEO Nathan Kong highlighted the commercial promise, noting the technology’s ability to selectively upgrade yttrium purity and concentration, which could improve supply amid accelerating demand driven by AI and data centre build-outs.