The LCA model will comply with the outlines of the International Organisation for Standardisation (ISO). The Medallion Monazite Process is already realising data through an ongoing techno-economic assessment (TEA) that will be ready for review in the March quarter.

The process itself does not require additional mining for REE production, Medallion said, as it uses high-grade byproduct that usually is sent away as waste. It is scalable and transferable to both maximise profitability and minimise carbon dioxide impact.

With zero liquid waste and a high level of energy and chemical reuse and regeneration, Medallion said the process can convert greater than 95% of monazite feed to saleable REE and phosphate products.

"As REE demand grows in line with renewable energy and EV uptake, it is important that steps are taken to measure and mitigate the environmental impact of producing these essential elements," Minviro founder and director Robert Pell said.

"Delivery of an LCA is a central part of this process for the battery and EV industries as it provides customers with the necessary data to measure their impact, compare process or supplier scenarios and optimize the environmental performance of projects."

While the company did not indicate how long the LCA would take, it did say the gate-to-gate evaluation includes a life cycle inventory and impact assessment for five impact categories including carbon footprint.