Ionic Rare Earths Limited (ASX: IXR) has advised that Ionic Technologies International Ltd, a 100% owned subsidiary based in Belfast, UK, has progressed the delivery of a feasibility study for a commercial magnet recycling facility, based in Belfast, UK.
Following the successful award of grants from the UK Government’s CLIMATES programme, Ionic Technologies has selected WSP as the engineer and project manager for delivery of the feasibility study for the magnet recycling facility.
Managing director, Tim Harrison, commented, “The confirmation of WSP as the service provider tasked with delivering the feasibility study into a first-of-kind commercial magnet recycling facility in Belfast, utilizing our patented technology, represents a significant step towards the construction of a commercial scale magnet recycling facility, and in doing so establishing a domestic supply chain of secondary Rare Earth Oxides (REOs) for the UK.”
Ionic has reported that the feasibility study forms the most significant single output of the CLIMATES project that Ionic Technologies will complete in partnership with the British Geological Survey (BGS), which will provide a comprehensive assessment of the feasibility and supply side dynamics of a magnet recycling facility within the UK.
“We are pleased that we have achieved this key milestone of selecting a suitable partner as part of the CLIMATES program, in collaboration with British Geological Survey, which will deliver on not only this feasibility study, but also the supply side dynamics of a magnet recycling facility, within the UK. The decision to select WSP as the service partner on this landmark study was made because of WSP’s prominence, experience, and reputation in the chemical industry, as well as their demonstrable capability to deliver a study that is closely aligned to our overall project objectives.” Added Harrison.
Additionally, the Belfast facility has the potential to be a significant contributor to the benchmark target set out within the EU Critical Raw Materials Act 2023, being 25% magnet rare earths annual consumption from recycling by 2030.
To find out more, please visit www.ionicre.com.au
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