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Southern Gold Limited ( (AU:ION) ) has shared an announcement.
Iondrive Limited has signed a binding agreement with Colt Recycling LLC, a major US eWaste processor, to evaluate the recovery of rare earth elements using Iondrive’s DES technology. This collaboration aims to transition from initial evaluations to a commercial-scale operation, potentially positioning Iondrive to enter the North American market and address the global need for sustainable REE recovery. The agreement highlights the strategic importance of developing alternative supply chains for REEs, which are critical for technologies like electric vehicles and advanced electronics, amid current supply vulnerabilities.
More about Southern Gold Limited
Iondrive Limited operates in the recycling and waste management industry, focusing on the recovery of rare earth elements (REEs) from electronic waste (eWaste). The company utilizes its proprietary deep eutectic solvent (DES) technology, which offers a sustainable and efficient alternative to traditional recycling methods, to extract valuable materials such as gold, copper, palladium, and REEs.
YTD Price Performance: 50.0%
Average Trading Volume: 4,794,391
Technical Sentiment Signal: Buy
Current Market Cap: A$53.44M
See more data about ION stock on TipRanks’ Stock Analysis page.