Ionic Rare Earths Limited (ASX: IXR) has announced that its 100% owned UK subsidiary, Ionic Technologies, continues to receive numerous requests from various magnet REO supply chain participants and potential strategic partners to run both end-of-life (EOL) magnet material and swarf and magnet production waste streams trials through its rare earth recycling plant.
Given increasing demand for access to the technology and capacity being developed in Belfast, Northern Ireland, the company has now filled demand of the plant for the next 18 months.
Due to this demand, IonicRE is now exploring options to increase capacity at its demonstration plant together with potential new capacity with partners in other jurisdictions amid significant demand for the production of REOs from magnet recycling.
IonicRE’s managing director, Tim Harrison, stated “It is exciting to report that both the supply chain appetite and progress at our demonstration plant in Belfast has been excellent. We now have a wonderful showcase for the industry to see first-hand, how we can provide an immediate option for secure, sustainable, alternative magnet rare earths for a fraction of the capital required for new mine and refinery capacity, let alone a substantially reduced technical and deliverability risk profile.”
The company’s discussions to date have looked to access the magnet recycling opportunity now, as a first step to facilitate immediate capacity in building a more robust recycling to magnets supply chain, together with exploring access to the Makuutu Rare Earths Project basket of magnet and heavy rare earths as capacity grows over the next few years.
“We are already fully engaged in discussions with groups now looking at the offering from Ionic Technologies as a viable near-term solution to magnet REO sovereign capacity, and a disruptor to the tight constraints on the existing supply chain.” Added Mr. Harrison.
To find out more, please visit www.ionicre.com.au
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