IonicRE and Less Common Metals Sign MOU to Boost Rare Earths Supply Chain

Ionic Rare Earths (ASX: IXR) has signed a Memorandum of Understanding (MOU) with UK-based Less Common Metals (LCM) to enhance recycling opportunities and strengthen the rare earth permanent magnet (REPM) supply chain in the UK and USA. The collaboration aims to produce high purity rare earth oxides and involves support from UK and international governments. This MOU builds on a previous partnership with Ford to establish a UK-based supply chain.

The first supply of recycled rare earth oxides is expected in July 2024. IonicRE's Executive Chairman, Brett Lynch, highlighted the goal of creating a resilient Western rare earth supply chain, while LCM's Chairman, Grant Smith, praised IonicRE's flexible recycling technology. This partnership is crucial for advancing a sustainable and secure rare earths supply chain.

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