AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Ionic Rare Earths (IXR) partners with DNA Link (KOSDAQ:127120) to recycle rare earth magnets in South Korea.
- Collaboration aims to strengthen an ex-China rare earths supply chain.
- The deal aligns with upcoming magnet recycling plants in Belfast and South Korea.
Ionic Rare Earths Ltd (ASX:IXR) has recently signed a non-binding Memorandum of Understanding (MoU) with DNA Link (KOSDAQ:127120) to jointly develop a sustainable and traceable recycling solution for rare earth permanent magnets in South Korea, the third-largest market for magnets worldwide. This agreement reflects a significant step in building a secure, ex-China rare earths supply chain, which is crucial in meeting the growing demand for rare earth materials in industries like electric vehicles (EVs) and robotics.
Under the terms of the MoU, the two companies will explore recycling technologies to supply South Korea's magnet industry. South Korea, which imported over 5,400 tonnes of permanent magnets from China in 2021, is focusing on reducing its reliance on foreign imports. The collaboration could involve support from the South Korean government and other international stakeholders, aligning with Ionic Rare Earths’ mission to secure a sustainable and sovereign rare earth supply chain.
The partnership enhances Ionic Rare Earths’ growing global footprint, which already spans from the UK to Brazil. The new project complements the company's plans to establish a magnet recycling operation in Belfast, UK, which is expected to begin operations in late 2026. The strategic link between these two plants is crucial, as it will provide a consistent supply of recycled rare earth oxides (REOs), forming a vital part of Ionic’s global expansion strategy.
For DNA Link (KOSDAQ:127120), this MoU supports its ambitions to establish a permanent magnet production facility in Yesan, South Korea, which is set to produce 1,000 tonnes of neodymium-iron-boron (NdFeB) magnets annually. This facility is expected to come online later this year, with an eye on meeting the rising demand for advanced materials used in clean technologies. The timing of this production aligns well with Ionic’s planned recycling operations, creating synergies between the two companies.
As demand for NdFeB magnets grows, driven by the electric vehicle sector and other emerging technologies, this collaboration positions both companies to capitalize on the expected compound annual growth rate of 8.7%. Analysts foresee a strong future for rare earths and the necessary recycling technologies, especially with global shifts toward reducing dependency on China for critical materials. The partnership between Ionic Rare Earths and DNA Link (KOSDAQ:127120) demonstrates a shared vision to build a more resilient and sustainable global rare earth supply chain.
