Ionic Rare Earths expands into Brazil

Ionic Rare Earths (ASX:IXR) has entered into a Memorandum of Understanding (MoU) with SENAI FIEMG Innovation and Technology Centre in Brazil. This move aims to establish a Brazilian supply chain for rare earth magnets. The joint venture, Viridion, will collaborate on producing NdFeB magnets at South America's first rare earth magnet laboratory.

Ionic Rare Earths' strategic vision and future plans

Ionic Rare Earths, through its joint venture Viridion, is advancing its strategy to integrate into the Brazilian rare earth market by signing an MoU with SENAI FIEMG. This agreement is set to boost NdFeB magnet production in Brazil, leveraging advanced technology from Ionic Technologies. The company aims to begin studies for a REO refinery and recycling facilities in 2025, targeting significant production by 2026. With a focus on sustainable and traceable supply chains, Ionic Rare Earths is looking to replicate its successful operations in other global markets, emphasizing its commitment to the circular economy.

Executive insights on strategic alliance

This MoU marks a significant step in our strategy to develop a secure and sustainable supply chain for rare earth elements in Brazil. We are excited about the opportunities this partnership brings to leverage our technology and expertise in a new market.