Ionic Rare Earths Magnet Recycling Plant ready to run 24/7 from January 2024

Ionic Rare Earths subsidiary Ionic Technologies’ Magnet Recycling Plant on track for 24/7 operations from January 2024
Company has developed process to separate and recover REEs from waste magnets
Commercial production to support LCM and Ford’s collaboration expected in the near-term

Special Report: Ionic Rare Earths says its magnet recycling demonstration plant in Belfast, UK, is on track for 24/7 operations from early January 2024.

The Company’s subsidiary Ionic Technologies is a global first-mover in the recycling of neodymium-iron-boron (NdFeB) permanent magnets into high-purity separated magnet rare earth oxides (REOs).

Ionic Rare Earths (ASX:IXR) believes its proposed separation and recovery of REEs from waste permanent magnets will create a “sustainable, traceable and sovereign” rare earth supply chain which can be a significant contributor to the benchmark target set out within the EU Critical Raw Materials Act 2023 of 25% magnet rare earths annual consumption from recycling by 2030.

Back in September, the company secured funding for two CLIMATES grants from the UK Government’s Innovate UK totalling £2 million (A$3.90 million) based on two CLIMATES projects:

To develop a traceable, circular supply chain of rare earths for application in EV motors within the UK in partnership with Less Common Metals (LCM) and Ford Technologies; and
To commence a feasibility study for a commercial magnet recycling plant in Belfast, UK.

Gearing up to meet recycling demand

Ionic Technologies says it expects the commissioning of the process control system at the Plant to be completed this week.

Pre-production has also commenced – preparing digestion feed streams plus several intermediate streams in advance of the UK government-sponsored collaborative project with Ford and Less Common Metals.

Over 300kg of magnets has been processed and over 700kg of magnet slurry being prepared for processing in the demonstration plant.

To facilitate the significant number of new production projects and demand for recycled magnet REOs coming from rare earth permanent magnet supply chain partners, Ionic Technologies has also expanded the operations team in readiness for an extensive campaign through 2024 and beyond.

In addition, the Company says several further supply chain collaborations with rare earth metal, alloy and magnet manufacturers plus Original Equipment Manufacturers (OEMs) are underway to expand its global offering.

 

This article was developed in collaboration with Ionic Rare Earths, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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