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Ionic Rare Earths Limited ( (AU:IXR) ) just unveiled an announcement.
Ionic Rare Earths Limited’s Brazilian joint venture, Viridion, has been selected by the Brazilian National Bank for Economic and Social Development and FINEP to receive significant funding to advance its rare earth refining and recycling facilities. This development positions the company to enhance its operations amid global efforts to diversify rare earth supply chains away from China. The funding will support the development of pilot plants, metallurgical testing, and engineering feasibility studies, contributing to Brazil’s ambitions to become a leader in the rare earth industry, especially as the country expands its wind energy and EV production capacities.
More about Ionic Rare Earths Limited
Ionic Rare Earths Limited operates in the strategic minerals industry, focusing on rare earth elements crucial for advanced manufacturing and renewable energy sectors. The company is involved in the development of a downstream rare earth supply chain, with a particular emphasis on refining and recycling rare earth elements, such as Neodymium, Praseodymium, Dysprosium, and Terbium, which are essential for producing permanent magnets.
Technical Sentiment Signal: Sell
Current Market Cap: A$36.87M
See more insights into IXR stock on TipRanks’ Stock Analysis page.