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Highlights
- Ionic Rare Earths (IXR) explores rare earth refinery setup in the US
- US expansion complements Brazil operations under Viridion JV
- Discussions underway with US strategic groups for supply chain development
Ionic Rare Earths (ASX:IXR) is strategically advancing its footprint with plans to potentially establish a rare earth refinery in the United States, broadening the scope of its Viridion Joint Venture with Viridis Mining and Minerals Ltd (ASX:VMM). This move aligns with global momentum for critical minerals security and is set to complement its existing plans in Brazil under the same partnership.
The Viridion JV, a 50/50 collaboration, was recently selected under a significant Brazilian government initiative worth 7.5 billion reals (approximately USD 1.4 billion). This milestone has not only enhanced its positioning in Brazil but also opened the door to explore North American capabilities.
Ionic Rare Earths’ managing director Tim Harrison emphasized that the recent progress in Brazil, combined with ongoing dialogue with US-based groups, prompted the consideration of a US-based processing facility. The potential US operation would link material flow from Brazil to North America, forming a vertically integrated supply chain for magnet rare earths.
As a part of its broader strategy, Ionic Rare Earths is assessing how its UK-based subsidiary, Ionic Technologies, which has successfully been producing separated magnet rare earths for over a year, can serve as a template for replication in the US. These operations have already provided pilot outcomes and indicative operating costs, making the business case for geographic expansion more feasible.
In addition, the proposed US refinery could include processing circuits for heavy rare earths or tailored output streams such as Praseodymium, based on strategic needs. Harrison noted that the US is increasingly open to international collaborations for critical minerals, a sentiment echoed in ongoing discussions.
Over the coming weeks, efforts will focus on finalising the Brazilian funding structure and outlining the parameters for potential US operations. The company also noted that stakeholder updates are expected within the next five to six weeks.
This expansion plan comes alongside Ionic Rare Earths’ involvement in the Makuutu Rare Earths Project in Uganda, further diversifying its global portfolio.
For investors and market watchers, this development places Ionic Rare Earths firmly within the broader transformation of the ASX200 critical minerals landscape.
As the world pivots toward supply chain resilience for clean energy materials, Ionic Rare Earths appears to be aligning itself at the centre of this dynamic shift.
