Ionic Rare Earths is advancing its rare earth magnet recycling ambitions with strategic leadership relocation, government recognition, and new funding discussions. The company’s Belfast facility gains global significance as it targets key international markets.
- Managing Director Tim Harrison relocating to Belfast to oversee expansion
- Belfast recycling plant designated a ‘Strategically Important Project’ by FORGE
- Progressing £12 million UK government capital grant for commercial plant
- Appointment of seasoned strategic advisors to support global growth
- Plans to replicate patented recycling technology in US and other markets
Strategic Leadership Shift to the UK
Ionic Rare Earths Limited (ASX, IXR) has announced a pivotal organisational change with Managing Director Tim Harrison relocating to Belfast in the first half of 2026. This move underscores the company’s commitment to accelerating the development and commercialisation of its rare earth magnet recycling technology from its wholly owned subsidiary, Ionic Technologies.
Harrison’s relocation is designed to provide hands-on leadership as the company advances its commercial plant in Belfast Harbour, aiming to establish the UK’s first sovereign capability for producing recycled rare earth oxides (REOs). This step is critical as IonicRE positions itself at the forefront of sustainable and secure rare earth supply chains outside China.
FORGE Recognition Elevates Global Profile
The Belfast facility has been recognised as a ‘Strategically Important Project’ by the Forum on Resource Geostrategic Engagement (FORGE), an alliance of 54 countries including the US and the European Union. FORGE’s endorsement not only validates IonicRE’s patented magnet recycling technology but also facilitates its replication in key international markets, notably the United States.
This recognition comes amid heightened geopolitical focus on diversifying critical mineral supply chains, with the US government mobilising over US$30 billion in support for such initiatives. The UK’s recent Critical Minerals Strategy and its Memorandum of Understanding with the US further bolster IonicRE’s strategic positioning.
Funding and Strategic Advisory Boosts
IonicRE is progressing discussions with potential funders and strategic investors following an Offer in Principle for a £12 million (A$24 million) non-dilutive capital grant from the UK government. This funding is intended to support the commercialisation of the Belfast magnet recycling plant and underpin the UK’s sovereign rare earth production capabilities.
Complementing this financial momentum, the company has appointed two highly experienced strategic advisors, Constantine Karayannopoulos, a veteran rare earths executive with over 30 years in the industry, and James Rutherford, an investment professional with deep expertise in global mining and metals sectors. Their combined experience is expected to accelerate IonicRE’s market growth and capital raising efforts.
Towards a Circular Economy in Rare Earths
IonicRE’s integrated approach spans mining, refining, and recycling rare earth elements critical for net-zero technologies such as electric vehicles and offshore wind turbines. The company’s Makuutu Heavy Rare Earths Project in Uganda and its joint venture refinery in Brazil complement the recycling operations in Belfast, creating a circular economy for sustainable and traceable rare earth products.
A peer-reviewed study highlighted that Ionic Technologies’ recycling process can reduce carbon emissions by up to 61% compared to traditional primary mining supply chains, reinforcing the environmental benefits of its technology.
Looking Ahead
With organisational restructuring, government backing, and strategic expertise in place, Ionic Rare Earths is poised to expand its footprint across Europe, North and South America, and Asia. The company’s next critical milestone will be securing final investment decisions and advancing commercial operations, marking a significant step in reshaping the global rare earths landscape.
Bottom Line?
IonicRE’s strategic moves signal a fast-tracking of ex-China rare earth supply chains, but funding finalisation and geopolitical dynamics remain key hurdles.
Questions in the middle?
- When will IonicRE reach a Final Investment Decision for the Belfast commercial plant?
- How will geopolitical tensions impact the replication of technology in the US and other markets?
- What are the timelines and conditions attached to the UK government’s £12 million capital grant?