Ionic Rare Earths Limited (ASX: IXR) has announced further government support and supply chain progress through its magnet recycling business, Ionic Technologies International Ltd, a wholly-owned subsidiary based in Belfast UK.
Ionic’s managing director, Tim Harrison, commented “We are harnessing our technology to accelerate mining, refining, and recycling of magnet and heavy rare earths critical for energy transition, advanced manufacturing, and defence.”
Ionic Technologies has executed partnership agreements with Ford Technologies Limited, Less Common Metals Limited, and British Geological Survey to establish a rare earth supply chain from recycled magnets in the UK.
The recycling technology will produce high purity, separated, and traceable rare earths from end-of-life magnets, to be converted to NdFeB magnets for Ford to ultimately use in its electric vehicle (EV) production.
As part of the circular critical materials supply chains (CLIMATES) programme, The UK government will support the partnership through a £1M project, with Ionic Technologies announced as the major beneficiary and lead collaborator in the focus on delivering the UK’s first domestic sourcing of separated high purity magnet rare earth oxides (REOs).
Mr. Harrison continued, “CLIMATES funding that Ionic Technologies had been awarded by Innovate UK demonstrated IonicRE’s strategy to create a collaborative, western supply chain for Rare Earths with Ford Technologies and Less Common Metals in the UK and European Union.”
Ionic has stated that the move represents a significant step towards sovereignty for the UK, in developing market leading technology and building a supportive pathway for Ionic Technologies to commercialize the first magnet recycling facility, in order to feed escalating supply chain demand for circular economy magnet REOs.
To find out more, please visit www.ionicre.com.au
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