Ionic Rare Earths Ltd progressed its integrated rare earths strategy across key international jurisdictions during the March 2025 quarter, making notable strides at its Belfast-based Ionic Technologies recycling operation, the Makuutu Heavy Rare Earths Project in Uganda, and its Brazilian joint venture with Viridis Mining and Minerals Ltd.
Patented magnet recycling process
A highlight of the quarter was a peer-reviewed Life Cycle Analysis by Minviro, confirming Ionic Technologies’ patented magnet recycling process can reduce carbon dioxide emissions by up to 61% compared to conventional rare earth oxide (REO) supply chains.
This prepares the company well for the launch of its MagNetZero™ platform, aimed at providing carbon-accountable magnet supply chains.
IonicRE also signed a memorandum of understanding with South Korea’s DNA Link to establish a rare earth recycling and supply chain partnership aligned with the nation's expanding magnet production capacity.
In the UK, the company progressed plans to commercialise its Belfast magnet recycling facility, with regulatory approvals expected in 2025.
Discussions continued with the UK Government and Advanced Propulsion Centre regarding potential grant funding, alongside commercial engagement with partners such as Less Common Metals and Vacuumschmelze.
IonicRE aims to reach a final investment decision in 2025 and commence production in 2027.
Meanwhile at Makuuku
Meanwhile, the Makuutu Project in Uganda remains strategically significant amid China’s imposition of new rare earth export controls.
The project boasts a REO basket with approximately 45% medium and heavy rare earths, and is currently in development discussions with members of the Mineral Security Partnership and potential offtakers.
In Brazil, IonicRE’s 50:50 joint venture, Viridion, is advancing plans for pilot REO refinery and recycling plants in Minas Gerais.
The initiative is supported by Brazilian state agencies and aligns with national priorities for strategic mineral development, with Brazil offering cost-competitive production potential.
At quarter-end, IonicRE reported a half-year net loss of A$4.76 million (December 31 2023: A$15.16 million) and announced a general meeting for 16 May 2025.