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Ionic Rare Earths Limited (ASX:IXR)

ALERT: Price-sensitive ASX Announcement for IXR
Current share price for IXR : $0.305 -0.235 (-43.52%)+
Announcement
Release
27 Jan 2026 8:47AM
Price at Release
$0.540
Full Release
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Summary
Ionic Rare Earths Limited, through its subsidiary Ionic Technologies, has received an Offer in Principle from the UK Government for a £12 million grant to fund the development of a rare earth magnet recycling plant in Belfast, UK. This facility aims to produce 400 metric tonnes annually of high-purity separated magnet rare earth oxides (REOs) using proprietary recycling technology. The project aligns with the UK's Critical Minerals Strategy, reducing reliance on foreign imports and strengthening the domestic supply chain. The plant will focus on recycling pre-consumer scrap and end-of-life magnets, supporting the UK's automotive and advanced manufacturing sectors. The DRIVE35 Funding Program backs the initiative, part of the UK Government's effort to industrialise zero-emission vehicle technologies. IonicRE plans to secure the remaining funding required for the project, targeting the commencement of production within two years.
Key Points
  • Ionic Technologies received a £12 million grant offer from the UK Government.
  • The planned Belfast plant will produce 400 metric tonnes per annum of REOs.
  • The project supports the UK's Critical Minerals Strategy.
  • The DRIVE35 Program funds the industrialisation of zero-emission vehicle technologies.
  • The plant will recycle rare earth magnet scrap and end-of-life magnets.
  • First production is targeted within two years, with ongoing funding initiatives.
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.