Ionic Rare Earths secures significant UK Government funding for rare earth element supply chain partnerships

Ionic Rare Earths Limited (ASX:IXR) through its wholly owned subsidiary, Ionic Technologies, has secured substantial grant funding from the UK Government to foster rare earth element (REE) supply chain partnerships. The funding will facilitate the development of high purity, recycled magnet rare earth oxides (REOs) at Ionic Technologies' Demonstration Plant in Belfast, UK.

Executive commentary on strategic partnerships and government support

Mr Tim Harrison, Managing Director of Ionic Rare Earths, emphasized the significance of the strategic partnership with leading supply chain partners, LCM and VAC, in establishing Western supply chains for magnet manufacturing. He highlighted the UK Government's recognition of the role of Ionic Technologies' magnet recycling technology in establishing critical minerals supply chains and facilitating strategic collaborations. Mr Harrison also expressed excitement about delivering a full schedule of magnet recycling through to mid-2025 and the company's aim to develop domestic, secure, and sustainable supply chains.

Summary of UK funding and outlook

Ionic Rare Earths, through its subsidiary Ionic Technologies, has secured substantial grant funding from the UK Government to advance rare earth element supply chain partnerships. The partnerships aim to produce high purity, recycled magnet rare earth oxides at the Demonstration Plant in Belfast, UK. The company's ambitions include progressing the technology with the deployment of modular recycling initiatives in Western markets, addressing strategic supply and sovereign security. The UK Government's support positions Ionic Rare Earths at the forefront of the emerging ex-China supply chain, driving the development of supply chains across Europe and beyond.