Ionic Rare Earths (ASX:IXR) subsidiary Ionic Technologies will enable the company to provide an alternative source of magnet rare earths to the global battery supply chain, according to Ionic Rare Earths Managing Director Tim Harris.
Ionic Technologies recently signed landmark partnership agreements with Ford Technologies, Less Common Metals and the British Geological Survey to create a UK rare earths supply chain from recycled magnets, which Harrison said could set the stage for production at the company’s Makuutu rare earths project in Uganda.
The UK government will support said partnerships via a GBP 1 million project — an opportunity to provide an alternative source of magnet rare earths to be converted into metals and alloys, Harrison explained. “This can be handed across to magnet manufacturers to produce sintered magnets (and) permanent magnets to go into electric vehicles.
“Once those relationships have been developed, we’ve got a large ionic adsorption project (to) bring to production very quickly to source that larger demand that will come once the capacity exists outside of China,” he added.
Ionic Rare Earths is advancing its 60 percent owned Makuutu project in Uganda, which contains 71 percent magnet and heavy rare earths deposits.
Watch the full interview with Ionic Rare Earths Managing Director Tim Harrison above.
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