Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has tapped Brett Lynch, former managing director of lithium company Sayona Mining, for the position of executive chair, where he will oversee the company’s strategic direction going forward.
With a track record of delivering increasing value across the critical raw materials sector and experience in supply chain integration, Lynch will work alongside the current board to deliver on IXR’s objective of becoming a leading miner, refiner and recycler of heavy rare earths.
“The board of Ionic Rare Earths Ltd is delighted to have attracted someone of Brett’s calibre and experience to take on the role as executive chair, and with me, lead the growth and strategic direction of the company,” IXR managing director Tim Harrison said.
“It’s important that chairs and directors have a meaningful stake in the company’s growth and share price performance.”
Lynch has committed to an initial placement in the company of more than 83 million shares, subject to shareholder approval.
Rapidly growing demand
“The market demand in the magnet sector is growing quickly and requires a robust and reliable supply chain solution to meet the needs of modern economies,” incoming executive chair Brett Lynch said.
“IonicRE is perfectly placed to accelerate and lead this transition with its Makuutu ionic clay deposit in Uganda and its magnet recycling operations in Northern Ireland.
“The rare earths industry is critical to the ongoing development of renewable energy, defence applications, and automation.
“I look forward to capitalising on this opportunity for the benefit of all shareholders and strategic partners.”
Lynch has 30 years of experience in international business development and management and a strong background in mining and mining-related businesses across Australia, Asia, USA and emerging markets.