Ionic Rare Earths has made significant progress in its magnet recycling and rare earth supply chain initiatives, including the development of a commercial magnet recycling facility in Belfast and partnerships in the US and Brazil. The company aims to ensure compliance with environmental and climate-related regulations while managing operational and financial risks.
Material actions and disclosures
The company received an Offer in Principle for a £12 million (approx. A$23 million) capital grant to support the delivery of a commercial magnet recycling facility in Belfast. This facility will produce 400 metric tonnes per annum of high purity (99.5% plus) separated magnet rare earth oxides (REOs), utilising Ionic Technologies’ patented long-loop recycling technology.
In May 2026, a collaboration led by Ionic Technologies and including industry partners Less Common Metals (LCM), GKN and Ford UK successfully demonstrated a first-of-kind supply chain for e-motor magnets, in another step forward in developing UK rare earth supply chains.
Ionic Technologies also led an industry consortium which secured £11 million in funding to create a UK REPM supply chain, under the ‘CirculaREEconomy’ project announced in July 2025.
In November 2025, IonicRE signed a non-binding Memorandum of Understanding (MOU) with Missouri-based US Strategic Metals (USSM), which has a fully permitted, 1,800 acre (728.4 hectare) site in Missouri. A planned facility at the site could produce significant quantities of NdPr (neodymium and praseodymium), and importantly a range of strategic heavy rare earths, Dy (dysprosium) and Tb (terbium), plus host dedicated facilities to recycle SmCo (samarium cobalt) magnets and Y (yttrium) containing ceramics.
In May 2026, IonicRE agreed a Joint Development and Licensing Agreement with Nth Cycle, a critical mineral refining technology company, to enhance end-to-end rare earth refining operations in the United States and globally. Under the agreement, Nth Cycle will provide its proprietary electro-extraction technology for IonicRE’s rare earth recycling and refining operations, establishing the first Western production pathway for both long-loop recycling to high purity REOs, as well as providing the potential to eliminate oxalic acid from the recycling process.
Viridion, IonicRE’s 50/50 Brazilian joint venture with Viridis Mining & Minerals, made significant progress during fiscal 2026, including the construction of a Centre for Rare Earths Innovation, Technology and Recycling (CRITR) in Minas Gerais.
These developments are part of Ionic Rare Earths’ strategy to establish secure, sovereign, and sustainable ex-China rare earth supply chains across the United States and Europe, while expanding the Company’s global refining and magnet recycling footprint.
Attributed to the Directors’ Report of Ionic Rare Earths, 30 June 2026.