Modern Mining NYSE American debut: e-waste feedstock and process notes for engineers
Reviewed by Joe Ashwell
First reported on MINING.com
30 Second Briefing
Modern Mining began trading on the NYSE American under ticker “MDRN” after a roughly US$40 million IPO, closing its first day down 3.5% with a market capitalisation of about US$36.1 million. The company uses a proprietary aqueous-based process to recover gold, silver, copper, palladium and other metals from electronic waste, targeting above-ground feedstock from discarded electronics. CEO Jeet Basi said the listing and new capital will be used to scale processing capacity as the US seeks to retain more critical mineral-bearing material domestically.
Technical Brief
- Modern Mining applies a proprietary aqueous-based leaching system to extract Au, Ag, Cu and Pd from e‑waste.
- Feedstock consists of discarded electronics, effectively treating above-ground “urban ore” rather than in situ deposits.
- CEO Jeet Basi emphasises reduced lead time versus conventional mines, which typically require years to reach production.
- Capital raised is earmarked for scaling plant capacity and increasing throughput of electronic scrap material.
- Domestic processing of critical metal-bearing waste aligns with US policy to shorten and localise supply chains.
Our Take
Modern Mining’s NYSE American listing follows a run of critical-minerals IPOs on the same board, including IMC Rare Earths and the planned Rare Earths Americas float, signalling that NYSE American is becoming the preferred venue for smaller US-focused critical mineral and e-waste plays rather than the main NYSE board.
Our database shows only a handful of US e-waste recovery stories compared with conventional gold or copper projects, so Modern Mining’s focus on recovering gold, silver, copper and palladium from critical mineral-bearing material positions it in a relatively uncrowded niche among the 1279 Mining stories tracked.
The roughly US$40 million IPO proceeds and resulting US$36.1 million market capitalisation suggest Modern Mining is capitalised at a scale similar to other early-stage critical minerals issuers on NYSE American, which typically need to demonstrate rapid commercialisation milestones—such as the Greenville e-waste plant ramp-up—to support follow-on capital raises.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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