Ionic Rare Earths Limited (AU:IXR) has released an update.
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Ionic Rare Earths Limited, through its Viridion Joint Venture, is advancing plans to establish a magnet recycling supply chain in Minas Gerais, Brazil, backed by strong local government support. A feasibility study indicates potential profitability and lower operating costs for a Rare Earth Oxide facility in Brazil, modeled after their Belfast plant. This initiative is part of a broader strategy to create a sustainable supply chain independent of China, leveraging Brazil’s resources and workforce.
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