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Ionic Rare Earths Limited ( (AU:IXR) ) has shared an announcement.
Ionic Rare Earths Limited has signed a non-binding Memorandum of Understanding with South Korea’s DNA Link to collaborate on recycling rare earth permanent magnets and supplying magnet REOs. This partnership is intended to strengthen IonicRE’s presence in the Asian market and contribute to a global supply chain of rare earths, reducing dependency on China. The agreement includes plans to recycle swarf and supply recycled materials to DNA Link’s upcoming magnet manufacturing facility in South Korea. The collaboration also supports the establishment of a U.S.-based magnet production capacity, aligning with global trends towards sustainable supply chains in the electric vehicle and clean technology sectors.
More about Ionic Rare Earths Limited
Ionic Rare Earths Limited operates in the rare earths industry, focusing on the recycling and supply of rare earth oxides (REOs), particularly those used in permanent magnets. The company aims to establish a secure and sustainable supply chain outside of China, with a particular market focus on South Korea and the development of international partnerships.
Average Trading Volume: 2,997,896
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$31.43M
Find detailed analytics on IXR stock on TipRanks’ Stock Analysis page.
