Zinc of Ireland Lands €734K Grant to Fast-Track Critical Minerals Tech to Pilot
Key Takeaways
- Zinc of Ireland's subsidiary Meclex has been awarded a €734,000 (~A$1.2M) non-dilutive government grant from Belgium's VLAIO agency, meaning zero shareholder dilution to advance the ARGO technology.
- The total co-funding agreement reaches €1,223,000 (~A$2.0M), with Meclex contributing €489,000 from existing cash reserves alongside the government's share.
- ARGO targets recovery of germanium, gallium, and indium from zinc leach residue — critical minerals that currently cost smelters over €350 per tonne to dispose of via hazardous waste streams.
- The grant funds a 12-month testwork programme at Solvomet (Catholic University of Leuven), with the goal of reaching pilot plant phase (TRL 7) by early 2027.
- Validation comes from three institutional layers simultaneously: VLAIO government funding, a cooperation agreement with Nyrstar (one of the world's largest zinc smelters), and academic partnership with Solvomet.
European grant secured to fast-track ARGO critical minerals technology
Zinc of Ireland‘s subsidiary Metallon Clean Extractions BV (Meclex) has been awarded a €734,000 (~A$1.2 million) development grant from Belgium’s Flanders Innovation & Entrepreneurship agency (VLAIO). This is non-dilutive government funding — meaning the company secures capital to advance its ARGO technology without issuing shares or diluting existing shareholders. The grant fast-tracks ARGO from its current Technology Readiness Level 4 to Pilot Plant phase (TRL 7), with testing targeted for early 2027.
The funding will be directed at a testwork programme at Solvomet, a leading metallurgical research and innovation centre in Belgium, with key deliverables targeted over the next 12 months. ARGO focuses on the recovery of critical minerals — specifically germanium, gallium and indium — from zinc leach residue, a by-product of primary zinc smelting.
| Component | Amount (€) | Amount (A$) | Funded By |
|---|---|---|---|
| Total Project Co-Funding Agreement | €1,223,000 | ~A$2.0M | VLAIO + Meclex |
| VLAIO Grant (Government Share) | €734,000 | ~A$1.2M | VLAIO |
| Meclex Share | €489,000 | ~A$0.8M | Existing Cash Reserves |
| Project Term | 24 months (continuation after 12 months contingent on reporting compliance) | ||
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What ARGO does and why it matters
ARGO is a hydrometallurgical process designed to recover zinc, lead, silver and potentially critical minerals — gallium, germanium, and indium — from zinc leach residue (ZLR). ZLR is a by-product of primary zinc smelting. Roughly 20% of zinc smelter throughput ends up as ZLR, which is typically sent to secondary smelters for pyrometallurgical treatment.
The current pyrometallurgical route is energy-intensive, generates hazardous waste, and carries a disposal cost estimated at +€350 per tonne. ARGO offers a different pathway. It replaces the high-emission process with a low-energy hydrometallurgical alternative that recovers valuable metals and eliminates the hazardous-waste component.
Current Process vs ARGO Process:
- Current: ZLR sent to secondary smelter → hazardous waste generated → disposal cost +€350/t → high energy consumption → high emissions
- ARGO: ZLR processed hydrometallurgically → zinc, lead, silver, gallium, germanium, indium recovered → no hazardous waste → lower energy consumption → reduced emissions → value creation
What this means for your portfolio: critical minerals like germanium, gallium and indium are strategically important to Europe’s industrial base and supply security. ARGO positions Zinc of Ireland within the supply-security theme, addressing both environmental pressures and mineral scarcity in one technology.
Strategic validation and industry backing
VLAIO is a leading Belgian government agency responsible for funding innovative products in the Flemish Region up to TRL 7 — the pilot and scale-up phase. The grant validates ARGO’s benefit to the zinc smelting industry and its positive impact in the Flanders region.
Solvomet, where the testwork programme is being conducted, is the Catholic University of Leuven’s Research Centre for Circular Hydrometallurgy. It is a leading metallurgical research and innovation centre that supports mining, metallurgical and recycling companies in developing more sustainable, low-energy input hydrometallurgical processes.
Zinc of Ireland also holds a cooperation agreement with Nyrstar, a leading international producer of industrial and critical minerals and metals, including zinc and lead. Under the cooperation agreement, Nyrstar provides ZMI with feedstock (ZLR), industry know-how and testing facilities. Nyrstar’s Balen smelter, located in Flanders, is one of the world’s largest zinc smelters.
Greg Ross, CEO of Zinc of Ireland
“The securing of the grant comes at the perfect time for ZMI with the recent acceleration and expansion of its workplan for ARGO driven by industry’s feedback and now reinforced with the strong support by VLAIO. The recent record-breaking summer heatwave, drought and wildfires have made climate change and emissions reductions priority number one for Europe and the award of the VLAIO grant underscores the strategic importance of ARGO to Europe. ARGO’s ability to replace the high CO₂ emission process with a low energy, high recovery process is a key economic driver for the industry.”
What this tells you: government funding from VLAIO, industry backing from Nyrstar, and academic collaboration with Solvomet de-risk the commercialisation pathway. You have validation from three separate institutional layers — regulatory, commercial, and research.
Next steps and roadmap to pilot plant
The grant funds a fast-tracked and expanded 12-month testing programme at Solvomet. VLAIO will progressively fund the majority of ZMI’s testing over the next 12 months based on an agreed budget and schedule. The goal is to progress the ARGO flowsheet to pilot phase (TRL 7) by early 2027.
Zinc of Ireland has also flagged plans to establish a European head office and laboratory in the Flanders region, which will enhance ongoing product development and marketing activities.
Key Milestones and Timeline:
- Grant secured – €734,000 (~A$1.2M) awarded by VLAIO
- 12-month testwork programme – Conducted at Solvomet, Belgium
- Reporting checkpoint at 12 months – Continuation of grant contingent on compliance with financial reporting and updated budget
- Pilot plant phase (TRL 7) – Targeted for early 2027
Greg Ross, CEO of Zinc of Ireland
“This grant allows ZMI to strongly invest in the development of ARGO, progressing further and faster towards commercialisation, with substantial news flow expected as we progress to pilot plant testing by early 2027.”
What this means for your portfolio: the timeline is clear, the funding is non-dilutive, and the testing programme is front-loaded with deliverables over the next 12 months. You should expect ongoing newsflow as each milestone is reached.
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The broader investment case
Zinc of Ireland is focused on the complete zinc supply chain. Its metals technologies — ARGO and VOLTA — complement its mineral exploration activities. ARGO directly addresses environmental pressures facing the zinc smelting industry, offering a low-temperature, low-emission alternative to incumbent pyrometallurgical processes.
The company also owns the Kildare zinc deposit, located approximately 40km southwest of Dublin in an area known for high-grade zinc mines.
The grant secures non-dilutive funding to advance a low-emission technology with critical minerals exposure in a strategically supportive European jurisdiction. That combination — government backing, industry partnership, and alignment with Europe’s emissions priorities — positions ARGO as a commercialisation candidate with institutional validation.
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