Modern Mining Technology Corp.

General Information

Modern Mining Technology Corp. (formerly known as Urban Mining International Inc.) is a “landfill-to-commodity” focused business venture, offering a cleaner, safer, and lower-cost alternative compared to traditional mining operations. (Incorporated in British Columbia)

Our core business is aimed at processing and extracting strategic commodities from the vast, growing, and largely ignored global resource of electronic waste (“E-Waste”), and transforming these end-of-life landfill-bound materials into high-value resources. Value is captured by using our aqueous based processes to recover, process and refine commodity metals such as: gold, palladium, silver, copper and potentially 30 other metals

Our market consists of two parts — E-Waste feed supply and produced commodity sales.

The report, entitled Global E-Waste Monitor 2020 (the “Report”), provides that the world dumped a staggering 53.6 million tonnes of E-Waste in 2019 alone — equivalent to the weight of 250,000 jumbo jets. The Report also predicts global E-Waste will reach 74 million tonnes annually by 2030. The Report further indicates that approximately $57 billion worth of gold, silver, copper, platinum and other high-value, recoverable materials were wasted through landfill dumping or incineration burning, rather than being collected for treatment and reuse. It is Modern Mining’s business objective to address this situation and recover lost commodity materials from this E-Waste.

The Journal of Management Science and Engineering1 (the “Journal”) also produced findings that the cost to recycle E-Waste is significantly less than the cost of traditional mining. Lower production costs is a strategic advantage compared to traditional commodity producers. In addition to an increasing world demand for commodities, a number of large companies have announced their planned roadmaps to a more socially responsible supply chain. For example, in 2017, Apple announced its intention to use only renewable or recyclable materials in its products while, in 2021, Dell announced its goal of making more than 50% of their products content with recycled or renewable material. These are two examples of a growing trend of companies being more aware of their supply chains.

Our wholly-owned U.S. subsidiary, largely focusing on research and development in the E-Waste sector, conducted internal and external bench scale and pilot plant testing from its former facilities in Raleigh, North Carolina to demonstrate proof of concept. The external tests were done to ensure that we would be able to liberate metals and separate them from the plastic. Metallic Sand Concentrate (“MSC”) was successfully created by this process. The internal tests were done to ensure that MSC was able to undergo purification, which it was, and we were able to produce a doré bar. The internal test work was aimed at generating technical inputs needed to for our proposed plan to design a commercial scale E-Waste processing facility using our proposed proprietary two-step Pre-Concentration Plant (“PCP”) and Aqueous Purification Plant (“APP”) process.

To achieve our objectives, we have developed a two-step propriety process while our envisioned value-chain can be broken down into 3 main steps:

1)      We secure quality E-Waste feedstock from primary recyclers.

2)      We separate the plastics from the metals using our proprietary pre-concentration methods. The plastics are then sold to downstream third-party recyclers and suppliers.

3)      The concentrated metals streams are treated though our proprietary aqueous purification process, and the metal products are then sold into industrial supply chains.

We plan to sell final products produced by the APP on the metal commodities markets into both domestic and international supply chains.

We have engaged a third-party process modelling and industrial optimization firm to assist in layout optimization, three dimensional (“3D”) modelling, and dynamic simulation studies on our first commercial scale PCP and APP. These plants will be co-located in our future commercial facility in North Carolina. Our current Greenville facility presently serves only as a pilot and demonstration plant that we intend to use to continue to optimize our recovery processes that we ultimately plan to move to commercial scale production at a future location. In the long-term, we intend to secure a larger facility in the Raleigh or Greenville area of North Carolina to serve as our commercial-scale production facility although such future facility has yet to be identified as our current pilot plant facility still has significant capacity that we foresee being adequate in the short-term. The commercial PCP will be designed to treat approximately 8,000 tonnes of E-Waste per year and the commercial APP will be designed to be able to process concentrate from up to four PCPs.

Note: Revenue and net loss figures are in U.S. dollars for the year that ended Dec. 31, 2022.

(Note: Modern Mining Corp. filed its S-1 on Aug. 7, 2023, and disclosed terms for its IPO: 2.0 million shares at a price range of $4.50 to $5.50 to raise $10.0 million.)

Industry: Refuse Systems - Recycling E-Waste
Employees: 3
Founded: 2017
Contact Information
Address 1055 West Georgia Street, 1500 Royal Centre Vancouver, British Columbia, V6E 4N7, Canada
Phone Number +1 (984) 235-6778
Web Address
View Prospectus: Modern Mining Technology Corp.
Financial Information
Market Cap $43.95mil
Revenues $0 mil (last 12 months)
Net Income $-2.79 mil (last 12 months)
IPO Profile
Symbol MDRN
Exchange NYSE - American
Shares (millions): 2.0
Price range $4.50 - $5.50
Est. $ Volume $10.0 mil
Manager / Joint Managers ThinkEquity
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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