Ionic Rare Earths Limited (AU:IXR) has released an update.
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Ionic Rare Earths Limited has applied for a significant UK government grant to establish a commercial REO recycling plant in Belfast, aiming to pioneer recycled magnet production in the Western world. The facility, backed by a promising feasibility study, is expected to play a crucial role in the UK’s energy transition and regional growth, with potential financial support aligning with the UK government’s circular economy goals. This financial move could significantly reduce the equity needed for the project, attracting strategic investors and advancing towards a final investment decision in 2025.
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