Fodere Critical Minerals is seeking $10 million to $15 million in pre-IPO funding to develop a US demonstration plant for technology designed to recover titanium, vanadium, niobium and zirconium from industrial mineral feedstocks.
Funding Targets Mississippi Demonstration Plant
London-listed Jangada Mines, which holds 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. The company plans to focus its near-term development on a pre-commercial plant in Mississippi, using a combination of hydrometallurgical and pyrometallurgical processing. Fodere has signed a memorandum of understanding covering feedstock from Tronox’s Hamilton site, where testing has indicated potential to recover the four targeted critical materials. Two engineering groups are adapting the process design for US requirements, while discussions have also begun regarding potential federal support.
Demonstration Plant Becomes Key Technical Test
The proposed financing is intended to move Fodere beyond laboratory and pilot-scale testing towards a larger demonstration of continuous industrial processing. That stage is important because laboratory recovery results alone do not establish commercial viability.
The demonstration facility will need to show stable recoveries, acceptable product purity and controlled energy and reagent consumption while processing representative feedstock. The arrangement with Tronox could also reduce feedstock risk by providing access to an existing industrial material stream rather than requiring the development of a new mine.
Critical Minerals From Industrial Feedstocks
Fodere’s approach aligns with growing interest in recovering critical materials from industrial residues and by-products that might 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. Potential US government support could assist development, but the commercial case will ultimately depend on whether the process can achieve competitive performance at larger scale.
Financing Supports Potential US Listing
The $10 million-$15 million funding round is therefore primarily intended to finance the technical demonstration required ahead of a potential IPO. Jangada also said Axies Ventures, in which it owns 4.4%, is targeting an IPO in the fourth quarter of 2026 and has copper-gold exploration assets, including projects in Cyprus. For Fodere, however, the Mississippi demonstration plant remains the key near-term catalyst. Successful operation producing repeatable data on recoveries, product quality and costs would provide a stronger technical foundation for a potential US listing and could support deployment of the processing technology at other industrial sites.
