Fodere Critical Minerals is seeking $10 million to $15 million in pre-IPO financing to develop a US demonstration plant for processing technology targeting titanium, vanadium, niobium and zirconium. London-listed Jangada Mines, which owns 7.8% of Fodere, said a US investment bank is leading the fundraising, with completion targeted. Fodere is also considering a US stock-market listing in the first half of 2027.
Mississippi Plant to Test Processing Technology
Fodere’s near-term development programme is focused on a pre-commercial plant in Mississippi, where the company plans to combine hydrometallurgical and pyrometallurgical processing. The company has signed a memorandum of understanding covering feedstock from Tronox’s Hamilton site. Testing of the material has indicated potential recovery of titanium, vanadium, niobium and zirconium.
Two engineering groups are adapting the process design for US requirements, while discussions have begun regarding potential federal support. The proposed funding would take the technology from laboratory and pilot-stage work towards a larger demonstration of continuous industrial operation.
Demonstration Plant to Test Commercial Performance
The demonstration stage is intended to establish operating performance beyond laboratory and pilot results, including recovery rates, product purity, energy consumption and reagent requirements using representative feedstock. The agreement with Tronox provides access to an existing industrial material stream rather than requiring Fodere to develop a new mine for feedstock.
The processing model also targets critical materials contained in existing residues and by-products that could otherwise have limited value or require disposal. Titanium, vanadium, niobium and zirconium are used in aerospace, speciality alloys, chemicals, nuclear applications and advanced manufacturing, giving the technology exposure to several strategic-material markets.
Fodere and Jangada Corporate Developments
Potential US government support could contribute to project development, while the commercial assessment will depend on the ability of the processing technology to operate competitively at larger scale. The $10 million-$15 million financing is intended to fund the technical demonstration required before a potential IPO. Jangada also said Axies Ventures, in which it holds 4.4%, is targeting an IPO in the fourth quarter of 2026. Axies Ventures has copper-gold exploration assets, including projects in Cyprus. For Fodere, the Mississippi demonstration plant is the next major development stage, with operating data on recoveries, product quality and costs expected to support further evaluation of the processing technology.
