Ionic Rare Earths' demonstration plant in Belfast is already operational, processing 30 tonnes of magnets annually to produce 10 tonnes of High Purity Separated magnet rare earth oxides.

The company is now progressing towards a commercial-scale facility, with plans for a 12-acre site in Belfast Harbor capable of recycling 1200 tonnes of magnets per year to produce 400 tonnes of separated rare earth oxides.

The investment proposition is bolstered by several key factors:

- First-mover advantage: Ionic Rare Earths is the only company currently demonstrating the capability to separate all four key rare earth elements to individual oxides.

- High-margin potential: The company's focus on high-value elements like dysprosium and terbium, which command prices of $250 and $750 per kilo respectively, offers substantial profit potential.

- Government support: The UK government, through entities like Innovate UK and the Advanced Propulsion Centre, is providing significant backing for the company's development.

- Growing market demand: The European Union's Critical Raw Materials Act sets a target for 25% of magnet rare earth supply to come from recycling by 2030, up from the current 1%.

- Strategic partnerships: The company is already collaborating with major players like Ford, demonstrating industry interest in its technology.

- Scalable business model: The recycling process is capital-light compared to traditional mining operations, allowing for easier replication in other markets.

The project has garnered significant support from both local and national government stakeholders, with Harrison highlighting the potential for fast-tracked approvals and various funding opportunities.

This support underscores the strategic importance of Ionic Rare Earths' technology in creating a secure, traceable supply of rare earth elements for advanced manufacturing and net-zero technologies in the UK. With a target to begin production in 2026 capable of recycling 1200 tonnes of magnets per year to produce 400 tonnes of High Purity Separated rare earth oxides.

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