Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) managing director Tim Harrison joins Proactive’s Tylah Tully to discuss the results of a feasibility study for its rare earth oxide (REO) recycling facility in Belfast, UK.
The facility will process pre-consumer and end-of-life rare earth magnet scrap, supporting the UK’s green transition and supply chain independence.
Key findings include a post-tax net present value (NPV) of US$502 million (A$776 million), a 43.6% internal rate of return (IRR) and a capital payback period of 2.4 years.
Over 20 years, the facility is projected to generate US$2.12 billion (A$3.26 billion) in net revenue and US$1.78 billion (A$2.76 billion) in EBITDA.
With an annual throughput of 1,200 tonnes, it will produce 400 tonnes of high-purity REOs, such as neodymium and dysprosium oxides.
Located at Belfast Harbour, the plant will feature patented recycling technology by Ionic Technologies, requiring no mining and reducing environmental impacts.
Construction is expected by late 2026, with production starting in early 2027.
Supported by the UK Government’s Critical Minerals Strategy and partnerships with companies like Less Common Metals, the project advances a Western rare earth supply chain and aligns with global green energy goals. Ionic Rare Earths also plans to replicate this model internationally.
