IONICRE Acquires Rare Earth Separation And Magnet Recycling Technology

Ionic Rare Earths Limited (IonicRE or the Company) (ASX: IXR) is very pleased to advise that the Company has entered into a binding Term Sheet (TermSheet) for the acquisition of 100% of Seren Technologies Limited (SerenTech), a UK private company with unique and leading-edge rare earth separation technology.

• Binding Term Sheet signed for strategic acquisition of Seren Technologies Limited, a UK private company, that has developed Rare Earth Element (REE) separation and refining technology using ionic liquids
• SerenTech has also developed technology applicable for rare earth permanent magnet recycling to extract individual magnet rare earth elements (Nd, Pr, Dy, and Tb) from NdFeB permanent magnets
• The acquisition of SerenTech provides IonicRE with established capability (IP, team and know-how), unique technology and application potential
• SerenTech has the scope to provide IonicRE with a step change in magnet recycling capability, for near term REE production potential from magnet and swarf recycling which is forecast to provide a growing portion of the REE supply chain in the future
• SMM forecast recycling of NdFeB magnets and swarf is likely to be the largest growth of NdPr supply from 2021 to 2025
• Synergies with IonicRE’s planned downstream rare earth refinery study and new magnet recycling initiative to be unlocked providing a step change in high value Nd, Pr, Dy and Tb production capacity

IonicRE Managing Director Tim Harrison commented:

“This is another step in IonicRE’s transition to be a vertically integrated rare earths company. The IonicREBoardandmanagementareveryexcitedastothepotentialthisAgreementandtechnology brings to the Company. The addition of SerenTech to the group will provide the Company with additionalcapabilityforrareearthseparation,toindividualrareearthelementsrefinedtohighpurity oxides, which will further advance the Company’s plan to unlock additional value from the unique critical and heavy rare earth basket to be produced atMakuutu.”

“Importantly, there is immediate potential to roll out a strategy incorporating permanent magnet recycling into the near-term activities of the Company, providing an interim step to help bridge the gap between production at Makuutu and going downstream with our own dedicated separation and refining asset.”

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