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.
PERTH – ASX-listed Ionic Rare Earths has inked a landmark partnership agreement with Ford Technologies, Less Common Metals and the British Geological Survey to create a UK-based rare earth supply chain from recycled magnets.
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.
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