CRITICAL MINERALS
offshore wind market as well.” Harrison cites the UK as being one of the world’s largest adopters of offshore wind energy. “It is anticipated that the country will account for as much as 12% of magnets used globally by 2035, making our role as producers of recycled, separated rare earth oxides incredibly important.” IonicRE eyes global expansion With magnet recycling being “a relatively straightforward technology”, IonicRE is looking to expand commercial scale rare earth production in western jurisdictions such as Brazil and the US, where it “plans to build both magnet recycling and rare earth refining capacity”. According to Harrison, its patent protected, modular technology design allows IonicRE to build and ramp-up capacity anywhere in the world. “We are not dependent on a mine in another sovereign country that is susceptible to changes that may occur, such as in the political landscape. We can quickly ramp up capacity in target markets seeking security of supply for advanced manufacturing and military defence, which I believe are two areas driving the current global geopolitical tension.” In March 2024, IonicRE and Viridis Mining and Minerals inked a joint venture agreement to establish a rare earth separation refinery and a magnet recycling facility in Brazil. The venture aims to create a secure, domestic supply chain for rare earth elements in Brazil by commercialising IonicRE’s recycling and separation technology. “The Viridian joint venture is complementary to our business in the UK, and our ambition for the US. In tandem with completing several studies around recycling opportunities, we are also progressing a scoping study for a refinery. The intention is to build a pilot plant and establish a technical team to support the value addition in Brazil while also developing capacity for the US. We are extremely thrilled about the opportunity that is emerging in Brazil, as it will be a source of magnet and heavy rare earths for the West in the future.” IonicRE expects to be producing rare earth oxides from its pilot-scale facility in Brazil by the second half of 2026. Apart from offering supply chain resilience and support for regional value addition, the initiative provides IonicRE with a first mover advantage “in what could be
IonicRE Managing Director and CEO, Tim Harrison, left, on-site at Ionic Technologies' Belfast Facility.
Collection of magnet recycling streams and separated magnet rare earth oxides (REOs).
Government and financial institutions to fund the development of its commercial-scale plant, which carries a hefty £85 million capital requirement. dependent, and as such, we are working closely with the UK Government for a cornerstone capital grant. We are also working alongside key stakeholders in the Ministry of Defence, the Office of Foreign Investment, and the Department of Business and Trade to establish the foundations for a robust UK domestic supply chain in the shortest possible time.” Apart from existing shareholders, IonicRE is eyeing new institutional shareholders and strategic investors. “IonicRE is becoming an enabler not only “Although we would really like to accelerate this venture, it is capital for the development of new alloys used to produce magnets for EVs, but for the
oxides and magnet rare earth oxides for its partners, including GKN Powder Metallurgy, which produces magnets for Ford Motor Company. “We are actively building supply chain capacity in the UK and have expanded our offering to Bentley Motors and Wrightbus,” says Harrison. Having completed the feasibility study for the development of a commercial scale magnet recycling plant in the UK in 2024, IonicRE will undertake the design for the front-end engineering of the commercial plant in the first quarter of 2026. The target is to be in commercial production within two years. “First production from the commercial plant is scheduled for late 2027/early 2028,” Harrison affirms. In line with these developments, the company is advancing talks with the UK
34 MODERN MINING www.modernminingmagazine.co.za | February 2026
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