Interview with Tim Harrison, Managing Director of Ionic Rare Earths

Our previous interview: https://www.cruxinvestor.com/posts/ionic-rare-earth-ixr-battery-recycler-ahead-of-the-pack-3252

Recording date: 21st November 2023

Building Europe’s Rare Earths Supply Chain from Mine Through Recycling
Rare earth elements may lack mainstream name recognition, yet they play irreplaceable roles across electric transport, renewable power, robotics, and defence sectors. Despite such critical applications, Europe sources over 90% of its rare earths from China, creating a major strategic vulnerability. However, determined policy action coupled with private sector innovation could soon change this landscape.

Australian firm Ionic Rare Earths is advancing projects on two fronts to onshore rare earths into Europe and build more resilient supply chains. The company is finalizing permitting to develop the Makuutu rare earths deposit in Uganda, while simultaneously commissioning a novel rare earths recycling plant in Northern Ireland this January.

Makuutu could become one of few large-scale rare earths mines outside China meeting European standards for responsible and transparent mineral development. Containing a large ionic clay deposit, metallurgical breakthroughs allow rare earths at Makuutu to be extracted via simple processes already proven successful in Southern China.

With over 94% of land access agreements secured and continued positive drill results, Ionic believes necessary approvals are nearing completion to allow initial production of mixed rare earth carbonate samples by Q1 2024. Director Tim Harrison explains that establishing this early output will let potential customers complete their own assessments as full-scale development continues.

In tandem, Ionic’s Artic Technologies joint venture is preparing for 24/7 operation at its Belfast rare earth recycling plant. This ground-breaking facility can extract rare earths from not just end-of-life magnets but also manufacturing scrap and other waste residues containing them. This greater feedstock flexibility bolsters supply security.

Already tied to a European supply agreement with Less Common Metals and Ford Motor Company, initial outputs from Belfast will showcase Artic’s technologies to other manufacturers. Supporting Europe’s goal for 25% of rare earth magnets to come from recycling by 2030, Artic aims to undertake feasibility studies in 2023 for commercial-scale development.

Getting both the Makuutu mine and Artic recycling plant successfully online would showcase Ionic Rare Earths’ capacity to deliver end-to-end rare earths supply chains on European soil. Integrating complementary primary and secondary production with regional manufacturing can help the continent minimise dependence on Chinese imports over the long-term.
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View Ionic Rare Earth's company profile: https://www.cruxinvestor.com/companies/ionic-rare-earths-ltd

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