Ionic Rare Earths Wins UK Backing as It Expands Global Rare Earth Supply Chain

An announcement from Ionic Rare Earths Limited ( (AU:IXR) ) is now available.

Ionic Rare Earths has secured an offer in principle from the UK Government for a £12 million capital grant to help fund a rare earth magnet recycling facility in Belfast, designed to produce 400 tonnes per year of high-purity separated rare earth oxides and designated as a strategically important project. The company is progressing due diligence and capital discussions for this plant while advancing its Makuutu heavy rare earths project in Uganda and the Viridion joint venture in Brazil, alongside boosting its U.S. market presence via an OTCQB listing and appointing new strategic advisers, moves that collectively strengthen its positioning in ex-China rare earth supply chains.

The UK funding support for Ionic’s Belfast magnet recycling plant signals growing government backing for non-Chinese rare earth supply, potentially accelerating commercialisation of its recycling technology. Concurrently, ongoing engagement with international partners on Makuutu and Brazilian refining, plus upgraded U.S. capital market access, may broaden funding options and offtake opportunities for the company’s global rare earth strategy.

More about Ionic Rare Earths Limited

Ionic Rare Earths Limited is an Australian company focused on developing secure, sovereign and sustainable rare earth supply chains outside China. Its portfolio includes a 100%-owned rare earth magnet recycling subsidiary in Belfast, the Makuutu Heavy Rare Earths Project in Uganda where it holds a 60% interest, and a 50% stake in the Viridion refining and recycling joint venture in Brazil, targeting key magnet and heavy rare earth markets.

Average Trading Volume: 517,035

Technical Sentiment Signal: Sell

Current Market Cap: A$67.8M

Find detailed analytics on IXR stock on TipRanks’ Stock Analysis page.