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The latest announcement is out from Ionic Rare Earths Limited ( (AU:IXR) ).
Ionic Rare Earths Limited, through its Viridion Joint Venture, is planning to expand its operations by potentially developing a rare earth refinery in the United States. This move is part of a broader strategy to create a resilient supply chain for rare earth elements outside of China, addressing critical shortages in the US and supporting stakeholders seeking secure supplies of magnets and heavy rare earths. The initiative is supported by Brazilian government agencies and aims to fast-track discussions and activities to enhance the availability of US-refined rare earth oxides. This expansion is expected to strengthen the company’s position in the global rare earth market, particularly in the US, which currently relies heavily on imports from China.
More about Ionic Rare Earths Limited
Ionic Rare Earths Limited is involved in the rare earths industry, focusing on the development and supply of rare earth elements. The company is engaged in refining and recycling rare earth materials and aims to establish a sustainable supply chain outside of China, with a market focus on the United States and Brazil.
Average Trading Volume: 67,862,080
Technical Sentiment Signal: Sell
Current Market Cap: A$47.41M
For detailed information about IXR stock, go to TipRanks’ Stock Analysis page.