<p>Yes and no. Alchemy is associations of different materials , for exemple "fire" and "earth" elements to create "lava" . They are combination.
</p><p>Material Transmutation is changement of the raw element. Tranformation.
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</p><p>Take an exemple simple: the philosopher stone. It is created by alchemy after a magical creation that associate a great number of element, but it does material transmutation by transforming lead to gold.
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