Ionic Rare Earths earlier this week discussed potential expansion of its operations into the United States through the Viridion Joint Venture. The company said it is evaluating the development of a rare earth refinery in the US, complementing its ongoing efforts in Brazil.
Highlights
- Ionic Rare Earths is expanding the focus of the Viridion Joint Venture with Viridis Mining and Minerals Ltd.
- The company is considering establishing a rare earth refinery in the United States.
- This potential US facility would complement the proposed Brazilian refinery under the Viridion JV.
- The JV was selected for a US$1.4 billion funding initiative by the Brazilian government.
- Discussions are ongoing with US strategic groups regarding a domestic processing footprint.
- IonicRE has existing production capability via Ionic Technologies in the UK, producing separated magnet rare earths.
- The company is exploring replicating or extending this capability to a US-based operation.
- Harrison said the US is seeking reliable international partners for critical mineral supply chains.
- Upcoming weeks will focus on finalising the Brazilian funding package and defining the scope for potential US operations.
- The US facility could include circuits for heavy rare earths or Praseodymium-related products.
Broadening scope
The Viridion JV, a 50/50 partnership with Viridis Mining and Minerals Ltd (ASX:VMM), was recently selected as part of a 7.5 billion Brazilian real (approximately 1.40 billion US dollars) program by the Brazilian government. The company said this milestone positions it to broaden the scope of its operations.
IonicRE managing director Tim Harrison said the decision to explore a US facility follows recent progress with the Viridion JV and discussions with US-based stakeholders. He noted that material from Brazilian assets could be processed in the US, creating a strategic supply chain link for rare earths.
Harrison said: “The nature of that will really be dependent on some of the discussions that we've been having with groups in the US.” He added that the US is increasingly looking to partner with international sources for critical minerals.
Existing production capabilities
The company highlighted its existing production capabilities through its UK-based subsidiary, Ionic Technologies, which has been producing separated magnet rare earths for over 12 months. Harrison said the company had completed studies and piloting, providing indicative capital and operating costs for potential replication in the US.
The next steps include discussions in Brazil to finalise the structure of the funding package and continued planning for rare earth separation and magnet recycling capabilities. Harrison said these discussions will also clarify what form a potential US facility might take, including whether it would process heavy rare earths or focus on specific product streams like Praseodymium.
The company told investors that updates can be expected over the coming five to six weeks as it works with Viridis to advance both Brazilian and US strategies.
This planned expansion is in addition to Ionic Rare Earths’ involvement in the Makuutu Rare Earths Project in Uganda.