SYDNEY, Aug. 16 (Xinhua) -- A Chinese Australian scientist at a university in Western Australia has found a way to purify polluted water in minutes, it has been revealed Wednesday.

Associate Professor Laichang Zhang from Edith Cowan University's School of Engineering explained to Xinhua that researchers used nano technology to modify the atomic structure of iron in order to form ribbons of "metallic glass."

"It works by binding the atoms of the dye or heavy metals to the ribbon, leaving behind useable water," Zhang said.

A number of large international mining companies have expressed "significant interest" to develop the technology and save wastewater.

At the moment, the current method to purify industrial wastewater using iron powder is expensive and leaves a large amount of sludge behind as a byproduct, which needs to then be stored.

The other drawback of the current method is that the powder can only be used once.

"In contrast, the iron-based metallic glass we have developed can be reused up to 20 times, produces no waste iron sludge and can be produced as cheaply as few dollars per kilogram," Zhang said.

As well as interest from the mining sector, Zhang revealed that the textile industry in China also stands to benefit massively from the discovery, with a number of groups in close contact with the project.

"They should be able to produce faster and make the operation very environmentally friendly, so it's very good and much cheaper."