Ionic Rare Earths Limited (ASX: IXR) has received formal advice from the UK Government Investment Security Unit (ISU) that it has approved the acquisition of Seren Technology Limited.
Following this formal approval, all conditions to the acquisition of SerenTech have been completed. SerenTech is commercialising technology using ionic liquids for separation and refining of rare earth elements (REE), which includes the full cohort of the proposed basket from Ionic’s Makuutu project, consisting of the lanthanides series, Lanthanum (La), to Lutetium (Lu), plus Scandium (Sc) and Yttrium (Y).
The acquisition of SerenTech, based in Belfast, UK, greatly complements Ionic’s strategy of becoming a vertically integrated participant in the formation of new magnet and heavy rare earth supply chains emerging across Europe and North America.
Ionic will integrate SerenTech into Ionic with initial activities focusing on the following key activities over the next 12 months;
1. Consolidating operations in Belfast initially located at Queens University Belfast (QUB) as part of the Queens University Ionic Liquid Laboratories (QUILL);
2. Progressing test work and flowsheet development evaluation and modelling for Ionic’s standalone REE separation and refinery;
3. Installation of a pilot plant for demonstration of the full magnet recycling pilot plant to validate process improvements identified in collaboration with Ionic;
4. Planning for the development of a standalone facility in Belfast suitable to house hydrometallurgical laboratories and a purpose-built magnet recycling demonstration plant to process 30 tonnes per annum of spent magnets and swarf to produce 10 tonnes per annum of refined and separated magnet rare earths oxides (REOs) (Nd, Pr, Dy and Tb) with purity exceeding 99.9%; and
5. Progressing commercial relationships on sourcing and recycling spent magnets and swarf.
For further information please visit: https://ionicre.com.au/
