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Iondrive Limited (ASX:ION)

ALERT: Price-sensitive ASX Announcement for ION
Current share price for ION : $0.097 0.049 (102.08%)+
Announcement
Release
3 Aug 2026 9:57AM
Price at Release
$0.048
Full Release
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Summary
Iondrive Limited has commissioned a five-tonne IONSolv™ production campaign using a capital-light approach with third-party processing facilities in North America. This campaign aims to produce approximately 1.4 tonnes of mixed rare earth oxide (MREO) by Q4 CY2026, transitioning from laboratory validation to commercial-scale production. The project focuses on recovering neodymium, praseodymium, and dysprosium from end-of-life permanent magnets, supporting the US's strategy to reduce dependence on foreign rare earth sources. It provides a pathway for customer qualification and aims to inform the development of a 2,000-tonne-per-annum US commercial module.
Key Points
  • Iondrive Limited has initiated a five-tonne IONSolv™ production campaign in North America.
  • The campaign targets the production of approximately 1.4 tonnes of mixed rare earth oxide (MREO) by Q4 CY2026.
  • The campaign will recover neodymium, praseodymium, and dysprosium from end-of-life permanent magnets.
  • The production process will be executed using existing North American processing facilities.
  • The campaign is designed to bridge laboratory validation results with commercial-scale production.
  • Product from the campaign will be used for customer qualification and refining programs.
  • The project uses a capital-light approach by utilizing third-party processing facilities.
  • Iondrive targets a ~95% overall rare earth recovery from the magnet feedstock.
  • The campaign supports the US strategy to reduce reliance on foreign-controlled rare earth supply chains.
  • The initiative advances Iondrive's plans for a 2,000-tonne-per-annum US commercial module.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.