Ionic Rare Earths secured $5.5 million in funding to advance magnetic recycling technology and support the Makuutu Ionic Adsorption Rare Earths Project.
The funds will enhance the magnet recycling demonstration plant, complete a feasibility study for a full-scale plant, and advance discussions of the Makuutu Project.
Managing Director Tim Harrison highlighted full demand at the Belfast plant for 18 months.
The placement issued approximately 423 million shares at 1.3 cents per share.