Ionic Rare Earths Limited (ASX: IXR) has provided an update regarding its rare earth magnet recycling business, Ionic Technologies International Ltd, a 100% owned subsidiary based in Belfast UK.
The demonstration plant is ramping up to move to 24/7 continuous operation from early January 2024, enabling an increase to the amount of rare earth oxide (REO) product from the plant for samples to potential customers.
This is a result of increased third-party interest in utilizing the world class technology, where several further potential supply chain collaborations with rare earth metal, alloy and magnet manufacturers, and original equipment manufacturers (OEMs) and industrials have emerged.
Ionic Technologies has already successfully secured funding for two CLIMATES grants from the UK government, totaling £2M (A$3.90M), which provides a significant endorsement of the company and the technology.
The demonstration plant has already produced quantities of high purity (> 99.5%) neodymium (Nd) and dysprosium (Dy) rare earth oxides (REOs). After initial process commissioning and production runs through Q3 2023, the company has installed additional processing equipment, and is in the final stages of upgrading the installed control system which is now undergoing processing commissioning and is expected to be completed by the end of 2023
Ionic Technologies is targeting 24/7 operations from early January 2024, with commercial production runs to support the LCM and Ford collaboration, and processing end of life magnet samples for other potential customers.
To find out more, please visit www.ionicre.com.au
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