Ionic Rare Earths Limited (AU:IXR) has released an update.
Ionic Rare Earths Limited is making strides in the rare earths sector, securing $2.46 million in UK government funding for its recycled magnet partnerships and identifying a commercial-scale facility site in Belfast. The company is also advancing its Makuutu Heavy Rare Earths Project in Uganda, sending samples for analysis and negotiations, while cutting operational costs by up to 60% to extend its financial runway. Additionally, a joint venture in Brazil aims to establish a magnet recycling and refinery operation in the burgeoning market.
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