ASX-listed Ionic Rare Earths has initiated organisational changes to drive its global rare earth magnet expansion, including the relocation of MD Tim Harrison to Belfast, in Northern Ireland, and the appointment of new strategic advisers to enhance its market growth – experienced rare earths executive Constantine Karayannopoulos and international resources investment professional James Rutherford.

Karayannopoulos is a professional engineer who served as the president and CEO of Neo Performance Materials until July 2023.

He is also the co-founder and was the nonexecutive chairperson of Neo Lithium, a position he held from 2016 until 2022 when the company was sold for $960-million.

With a career spanning over three decades, his expertise extends to collaborating with various governments across Europe, North America and Asia, aligning public policy and industrial economics for strategic growth.

Rutherford, a native of Northern Ireland and a graduate of Queen’s University Belfast, is a seasoned investment professional with over 25 years of experience in investment management and banking, specialising in the global mining and metals sector.

Between 1997 and 2013, he served as senior VP at US investment firm Capital Group, where he had responsibility for investing in the global mining and metals sector.

Prior to that, he was VP at HSBC James Capel in New York, responsible for covering the Latin American mining industry and also worked at Credit Lyonnais Securities.

He currently serves as a director of Manara Minerals Investment, a joint venture between Saudi Arabian Mining Company Ma’aden and the Public Investment Fund and is a nonexecutive director of both Ecora Royalties and Perseus Mining.

He also sits on the advisory board of the Queen’s Business School at Queen’s University Belfast.

From 2013 to 2020, he served as a nonexecutive director of UK-listed diversified mining group Anglo American and, in 2020, was appointed nonexecutive chairperson of gold producer Centamin, a role he held until late 2024 when the Egypt-focused gold miner was taken over by AngloGold Ashanti.

“We are delighted to have attracted high-quality, accomplished corporate professionals in Constantine and Jim to join Ionic Rare Earths in strategic advisory roles, leveraging off their respective experience as we reorganise our business to expand our capacity and capability across the globe,” says executive chairperson Brett Lynch.

“Constantine Karayannopoulos is a pioneer in the rare earths sector, and his expertise in developing an integrated critical minerals business will be extremely valuable as we move from development to execution phase of our global commercialisation strategy.

“Similarly, Jim Rutherford’s global perspective, strategic insight and capital market knowledge together with his connections in Belfast and the UK will significantly strengthen our efforts to secure the necessary investment to drive development of our commercial rare earth magnet facility in Belfast Harbour,” he highlights.

“These appointments demonstrate our ability to attract top-tier global talent and I look forward to working closely with them as we ramp up our international development activity,” Lynch avers.

Strengthening the company’s development drive, Harrison will relocate to Belfast during the first half of the year to personally oversee the commercial plant’s development and expansion into European and US markets.

The company has also gained global recognition for its patented rare earth magnet recycling technology, with the newly formed Forum on Resource Geostrategic Engagement (FORGE) alliance declaring wholly owned subsidiary Ionic Technology’s Belfast magnet recycling plant a “strategically significant project”, Ionic points out in a statement.

FORGE aims to diversify global supply chains of critical raw materials and rare earth elements. The alliance of 54 countries and the EU was established as the successor to the former Minerals Security Partnership, which also includes the company’s Makuutu heavy rare earths project in Uganda.

Ionic has also stepped up discussions with potential funders and investors including development banks, following the company’s January 27 announcement of an offer in principle for a £12-million capital grant from the UK government to support Ionic Technologies’ delivery of a commercial magnet recycling facility in Belfast.

These discussions are said to be progressing.

The company is progressing stakeholder engagement and approvals for the commercial site on Queens Island in Belfast Harbour and is in discussions with both strategic investors and debt financiers to secure the total investment required to progress towards a final investment decision.

“Ionic Rare Earths continues to take little steps, but ever more quickly, as we amplify our global development drive. The FORGE announcement together with our appointment of new and highly experienced strategic advisers demonstrate we are on a pathway towards successful commercialisation,” Lynch says.