Ionic Rare Earths fields strong magnet recycling interest; moves closer to partnership agreements
Melbourne, Victoria
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April 16, 2024 03:20 PM Eastern Daylight Time
Ionic Rare Earths Ltd (ASX:IXR) managing director Tim Harrison sits down with Jonathan Jackson in the Proactive studio as the company fields strong global interest in its Belfast Magnet Recycling Demonstration Plant. Harrison discusses the upcoming production schedule and the potential partnerships on the horizon. IonicRE is setting a robust pace with an 18-month production schedule leading into the third quarter of 2025. The plant has become a critical showcase, demonstrating Ionic's capability to offer secure, sustainable alternatives for magnet rare earth oxides (REO) at a fraction of the capital and risk typically associated with new mining and refinery projects. This approach not only emphasises cost-efficiency but also significantly reduces technical and deliverability risks. The company is witnessing growing demand for this innovative recycling technology from supply chain participants and original equipment manufacturers (OEMs). With the demand and current production setup, Ionic is exploring options to expand capacity. Harrison said in a recent announcement, "The demand for recycled and high-quality REO products positions us uniquely in the market, especially with our strategic location in Belfast, providing access to both European Union and United Kingdom markets." Ionic Rare Earths is in advanced discussions for potential commercial partnerships that could leverage its technology for REO production, particularly focusing on recycling technologies like permanent magnets from wind turbines. These developments could position Ionic as a key player in reducing dependency on traditional REO supply chains, primarily dominated by China.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
