WSP Global Appointed to Manage Feasibility Study on Commercial Magnet Recycling Facility in Belfast, UK

The Board of Ionic Rare Earths Limited (“IonicRE” or “The Company”) (ASX: IXR) is pleased to advise that Ionic Technologies International Ltd (“Ionic Technologies”), a 100% owned subsidiary based in Belfast, UK, has progressed the delivery of a feasibility study for a commercial magnet recycling facility, based in Belfast, UK. Ionic Technologies has developed rare earth element (REE) separation and refining technology and applied this to the recycling of spent permanent Neodymium-Iron-Boron (NdFeB) permanent magnets to enable the creation of sustainable and traceable rare-earth supply chains.

• Ionic Technologies has selected WSP Global as the service partner to deliver the feasibility study for a first-of-kind magnet recycling facility, utilising our patented Rare Earth Element (REE) separation technology;
  
• WSP is a leading global provider of consultancy, engineering and project delivery services to the chemicals sector;
• The UK government is supporting the feasibility study through a £1 million grant as part of the Innovate UK circular critical materials supply chains (CLIMATES) program, to evaluate the construction and supply side dynamics of a magnet rare earth recycling plant in the UK in collaboration with the British Geological Survey (BGS);
• The plant will be located in Belfast, UK, where it has access to excellent infrastructure, and positive policy support through the Windsor Framework providing dual market access across the UK and EU;
• The move is an important step towards sovereignty for the UK, in developing market leading technology and building a supportive pathway for Ionic Technologies to commercialise the first magnet recycling facility in Belfast to feed escalating supply chain appetite for circular economy magnet rare earth oxides (REOs); and
• Ionic Technologies' Belfast magnet recycling facility has the potential to be a significant contributor to the benchmark target set out within the EU Critical Raw Materials Act 2023, being 25% magnet rare earths annual consumption from recycling by 2030.

The feasibility study forms the most significant single output of the CLIMATES project that Ionic Technologies will complete in partnership with the British Geological Survey (BGS), which will provide a comprehensive assessment of the feasibility and supply side dynamics of a magnet recycling facility, within the UK.

Ionic Rare Earth’s Managing Director, Tim Harrison, commented;

“Ionic Rare Earths’ focus is on securing critical elements for supply chain in the new economy. We are harnessing our technology to accelerate mining, refining and recycling of magnet and heavy rare earths critical for energy transition, advanced manufacturing, and defence.”

“The confirmation of WSP as the service provider tasked with delivering the feasibility study into a first-of-kind commercial magnet recycling facility in Belfast, utilising our patented technology, represents a significant step towards the construction of a commercial scale magnet recycling facility, and in doing so establishing a domestic supply chain of secondary Rare Earth Oxides (REOs) for the UK.”

“We will be working in partnership with WSP on the feasibility study, using our patented processes and knowledge gained through operation of our Demonstration Plant and we expect to have a costed solution by mid-2024”.

“We are pleased that we have achieved this key milestone of selecting a suitable partner as part of the CLIMATES program, in collaboration with British Geological Survey, which will deliver on not only this feasibility study, but also the supply side dynamics of a magnet recycling facility, within the UK.”

“The decision to select WSP as the service partner on this landmark study was made because of WSP’s prominence, experience and reputation in the chemical industry, as well as their demonstrable capability to deliver a study that is closely aligned to our overall project objectives.”

“WSP is a world leading engineering professional services business, and has technical expertise in engineering, science, architecture, planning, surveying and environmental management; all of which will represent key deliverables for this project, which will be served by their UK-based Process Engineering Centre for Excellence.”

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