Ionic Rare Earths managing director Tim Harrison talked with Proactive about the company's strategic developments surrounding the Viridion Joint Venture and potential expansion into the United States rare earths market.
Harrison confirmed that IonicRE, through its 50/50 Brazilian joint venture with Viridis Mining and Minerals Ltd (ASX:VMM), is considering establishing a rare earth refinery in the US. This would complement its ongoing initiatives in Brazil and builds on IonicRE's production capabilities already established at its UK-based Ionic Technologies subsidiary.
The Viridion JV was recently selected to participate in a BRL 7.5 billion (approximately USD 1.4 billion) program initiated by the Brazilian government, aiming to bolster domestic rare earth production. This funding milestone paves the way for IonicRE to consider further value-add processing facilities beyond Brazil.
“The nature of that will really be dependent on some of the discussions that we've been having with groups in the US,” Harrison said, indicating that talks are progressing with potential US-based stakeholders.
Over the coming weeks, IonicRE and its joint venture partner will focus on finalising funding structure discussions in Brazil and defining the scope for any potential US facility, including whether it would target heavy rare earths or other specific product streams.
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