UK backs Ionic's supply chain plans
PERTH (miningweekly.com) – ASX-listed Ionic Rare Earths has inked a landmark partnership agreement with Ford Technologies, Less Common Metals (LCM) and the British Geological Survey to create a UK-based rare earth supply chain from recycled magnets.
Ionic subsidiary Ionic Technologies’ recycling technology would be used to produce high purity, separated and traceable rare earths from end-of-life magnets and swarf, for supply to LCM for alloy production to be converted to NdFeB magnets for ultimate use by Ford in electric vehicle (EV) production.
Ionic on Tuesday said that the UK government has pledged £1-million support for the partnership project, with an additional £1-million in funding for a feasibility study into the construction and supply side dynamics of a magnet rare earth recycling plant in collaboration with the British Geological Survey.
The funding will be provided under the UK government’s circular critical materials supply chains (CLIMATES) programme.
“We are harnessing our technology to accelerate mining, refining and recycling of magnet and heavy rare earths critical for energy transition, advanced manufacturing, and defence,” Ionic MD Tim Harrison said.
“CLIMATES funding that Ionic Technologies had been awarded by Innovate UK demonstrated Ionic’s strategy to create a collaborative, Western supply chain for rare earths with Ford Technologies and LCM in the UK and European Union.”
“The other CLIMATES grant would see Ionic Technologies develop the business case and potential scale-up of a commercial magnet recycling facility in Belfast, in partnership with British Geological Survey.”
Ionic Rare Earths also owns the Makuutu rare earths project, in Uganda.
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