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Ionic Rare Earths Limited ( (AU:IXR) ) has shared an update.
Ionic Rare Earths’ subsidiary Ionic Technologies has secured an offer in principle for a £12 million capital grant from the UK Government’s DRIVE35 program to help fund an £85 million commercial rare earth magnet recycling plant in Belfast. The planned facility, capable of producing 400 tonnes per year of 99.5%-plus purity separated rare earth oxides from pre-consumer scrap and end-of-life magnets, is positioned to support the UK’s critical minerals strategy by reducing reliance on imported rare earths and strengthening supply chains for zero-emission vehicles and advanced manufacturing. Recognition of Belfast as a critical minerals cluster and the plant’s status as the first Western producer of recycled, individually separated magnet REOs underscore its strategic importance, while IonicRE advances due diligence with government agencies and engages strategic investors to complete project financing and move toward a final investment decision and targeted first production within two years.
The most recent analyst rating on (AU:IXR) stock is a Hold with a A$0.54 price target. To see the full list of analyst forecasts on Ionic Rare Earths Limited stock, see the AU:IXR Stock Forecast page.
More about Ionic Rare Earths Limited
Ionic Rare Earths Limited is an Australia-based company focused on rare earths, primarily through its wholly owned subsidiary Ionic Technologies, which develops patented recycling technology to recover high-purity rare earth oxides from magnet scrap and end-of-life magnets. The company targets the critical minerals supply chain for advanced manufacturing, automotive, defence and renewable energy markets, with a particular emphasis on supporting sovereign and sustainable supply in the UK and other Western economies.
Average Trading Volume: 845,017
Technical Sentiment Signal: Hold
Current Market Cap: A$121.5M
Find detailed analytics on IXR stock on TipRanks’ Stock Analysis page.