I don't hold but noticed this article this morning20 October,...

I don't hold but noticed this article this morning

20 October, 2022 03:00

AN Australia-based multinational which is focused on investment in the mining and resource sector has acquired a Queen's University spin-out which has developed new techniques to recycle permanent magnets using a revolutionary process for the separation and recovery of rare earth elements from mining ore concentrates and waste magnets.

Ionic Rare Earths (IonicRE), which in the last year has raised AUS$28 million (£15.7m) through the issue of shares, has taken over the running of Seren Technologies in Belfast, which will now be rebranded as IonicTech.

SerenTech - which last month was awarded a £1.72 million grant by the UK Government to develop a demonstration scale magnet recycling plant in Belfast - has 11 full time employees, with another 25 positions to be created in 2023.

And further expansion is planned as it accelerates the scale up of its technology, completing a new pilot plant at its new facility in Titanic Quarter.

Tim Harrison, managing director of Ionic Rare Earths, which operates from Melbourne and Perth, said: “The world’s supply of magnet rare earth elements is failing to keep pace with demand, whilst the importance and ubiquity of magnets as part of everyday life is growing.

“The latest statistics suggest the magnet rare earth element supply is sourced between 30-40 per cent from recycled materials, with China dominating over 99 per cent of the magnet recycling landscape

“IonicRE, through IonicTech, aims to provide an alternative option, with a low cost, modular entry for recycled magnets.”

https://www.irishnews.com/business/2022/10/20/news/qub_spin_out_serentech_bought_by_australian_magnets_specialist-2866802/?param=ds441rif44T