MISSISSAUGA – November 02, 2026 -- Cymat Technologies Ltd. (TSXV: CYM) will brief investors on November 4 at 2:00 p.m. EST on a proposed joint venture with KAP Minerals Inc. to produce scandium-aluminum (Sc-Al) master alloy at its Mississauga facility. The webcast, held on Zoom, follows a memorandum of understanding (MOU) signed with KAP last week.
JV would draw scandium from Kapuskasing mine tailings
The scandium would be recovered through secondary refining of surface tailings at a phosphate mine in Kapuskasing, Ontario, which KAP plans to rehabilitate. Transportation, energy and building infrastructure for the refining facility are already in place, which Cymat expects to deliver a low-cost process for scandium oxide.
Cymat would convert the oxide into a high-purity Sc-Al master alloy using a proprietary flux-free alloying method, built on its existing metal matrix composite (MMC) production line. The company describes the process as low-carbon and free of the noxious chemicals associated with flux-based methods. The alloying line is designed to scale as scandium supply and Sc-Al demand grow.
Aerospace and defence buyers are the target market
The JV plans to sell the alloy to aerospace, defence and other advanced manufacturing customers. Small scandium additions raise aluminum strength and improve fatigue and corrosion resistance and weldability without adding weight. Cymat says current scandium supply from Western allied sources is extremely limited. Canada and other governments classify scandium as a critical mineral.
CEO and Chairman Michael Liik said coupling the Sc-Al initiative with Cymat's previously announced MMC production for Rio Tinto's commercial customers will be "transformative" for the company.
Government officials attended MOU signing; non-dilutive funding is a goal
Provincial and federal officials attended the MOU signing at Cymat's Mississauga office. Cymat says the JV could reach commercial production levels within the current election cycle. Converting that government interest into non-dilutive financing is a key objective for both Cymat and KAP.
Scandium Canada's mine would not produce before 2031
Cymat concedes the JV's economic potential is hard to quantify, given severely constrained global scandium supply and early-stage commercial uses for Sc-Al. It points to Scandium Canada, with a market capitalization of about $80 million, as a comparable. That company is assessing the feasibility of a hard-rock site in northern Quebec. Even if the study is favorable, output would not start before 2031, according to its September 2026 corporate presentation. KAP's surface material, by contrast, is ready now for extraction and refining, Cymat says.
Liik will also update investors on the MMC initiative and the aluminum foam business. Registration is required, and questions can be submitted to Cymat in advance.