GREENVILLE – Modern Mining Technology, which focuses on the recovery of gold, precious metals and other valuable materials from so-called “e-waste,” plans to go public.

The company announced plans for an offering of 2 million shares on Tuesday. A statement has been filed with the SEC.

“Modern Mining intends to use the net proceeds from the offering for research and development expenses, marketing expenditures, capital expenditures, working capital, and general corporate purposes,” the company said.

If the IPO proceeds, shares will be listed on the NYSE American exchange under the symbol “MDRN.”

The company operates a refinery in Raleigh which Modern Mining says is “already tested and operational, fully permitted” with a capacity of 1,400 tons of “concentrate” per year.

Who runs Modern Mining?

KULJIT (JEET) BASI: CEO & PRESIDENT

Mr. Basi is an established mining industry professional with over 17 years of technical leadership experience in global public mining companies including Newmont, Goldcorp and Teck Resources. Jeet has a passion for growing a collaborative culture of technical excellence focused on maximizing Net-Asset- Value (NAV). Mr. Basi most recently held the position of Senior Advisor, Newmont North America, where he was responsible for implementing industry leading best practices in the areas of technical services, project development, and strategic planning across all of Newmont’s Canadian, U.S., and Mexican assets. Prior to Newmont, Mr. Basi held the position of Corporate Manager of Processing & Metallurgy for Goldcorp. During his eight-year tenure with Goldcorp, Mr. Basi established a track record of delivering bottom-line growth across major assets within the global portfolio. Specific value-adding highlights include $500M NAV improvement at the Penasquito mine, $300M NAV improvement at the Los Filos mine, and $100 NAV improvement at the Coffee Gold Mine Project. Prior to Goldcorp, Mr. Basi spent five years at Teck’s Highland Valley Copper operation where he most notably was involved in the mill optimization and expansion projects resulting in an opportunity to increase annual free-cash-flow by $25M through increased metal recoveries. Mr. Basi brings due-diligence knowledge in the M&A space in both acquisition and divestment scenarios. Mr. Basi is an industry professional and has contributed multiple publications within the technical community. Mr. Basi holds a Bachelor of Applied Science in Mining and Mineral Process Engineering from the University of British Columbia with a Minor in Commerce.

Source: Modern Mining

Modern Mining describes itself as a “landfill-to-commodity … aiming to offer a cleaner, safer, and lower-cost alternative compared to traditional mining operations.”

“We utilize a near-limitless global supply of the world’s richest precious metals resource – waste electronics,” the company explains at its website.

“This exciting 100% clean revenue generating business opportunity is capital-light, scalable, and offers strategic access to international markets, numerous recycling grants and tax incentives.

“Modern Mining’s eco-friendly, ESG [environmental, social, and corporate governance] -compliant, proven, and proprietary extraction process delivers 100 times better grades1 than traditional mined ores.”

Established as Urban Mining in 2017, its name was changed to Modern Mining in 2021.