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IXR

Ionic Rare Earths (ASX:IXR) has proven its ability to recycle magnet rare earth oxides after its demonstration plant in Belfast, UK, produced high quality neodymium oxide and dysprosium oxide.

The milestone production of 4.2kg of 99.7% grade of the light REE neodymium oxide and 0.6kg of 99.8% grade heavy REE dysprosium oxide comes less than nine months after the company received UK Government support.

The company says being able to recycle waste permanent magnets will help alleviate the projected deficit for MREOs as the market grows from the current US$3bn to US$15bn by the end of the decade.