In a major economic and ESG win for Ionic Rare Earths Ltd (ASX:IXR), a preliminary Life Cycle Assessment on subsidiary Ionic Technologies’ magnet recycling process has revealed substantial reductions in carbon emissions compared to existing primary rare earth sources.
A 30-50% potential reduction in production carbon footprint has been highlighted by Minviro, whose results will be peer-reviewed with final outcomes released in March this year.
The large potential carbon reduction compared to two well-established conventional rare earth oxide (REO) producers offers IXR a commanding position in terms of environmental benefits as the company endeavours to establish a European rare earth supply chain independent of Chinese markets.
Building circular economy
“These preliminary results indicate that Ionic Technologies’ patented process represents a step-change in the CO2 impact of REO production,” Ionic Rare Earths managing director Tim Harrison said.
“Minviro is a global leader in peer-reviewed, ISO-certified studies, utilising LCA methodologies to accurately quantify the CO2 impact of technologies, and the validation of our process that their assessment provides is invaluable.
“Manufacturers are obliged to quantify and actively manage the CO2 impact of their supply chain and critical raw material legislation globally is driving this even harder.
“Substantially more magnet REO demand, and therefore more CO2 impact, is now anticipated from emerging technologies, such as artificial intelligence (AI) and robotics, which amplifies the CO2 benefit that Ionic Technologies demonstrates.”
IXR’s Belfast commercial recycling plant will focus primarily on Didymium oxide ((NdPr)2O3) and Dysprosium oxide (Dy2O3), with a sensitivity analysis on Neodymium oxide (Nd2O3) also undertaken within the study.
The study also evaluated the application of IXR’s magnet REO products in direct drive wind turbine generators using Rare Earth Permanent Magnet (REPM) technology.
This study is undergoing critical peer review to ensure transparency, accuracy and ISO compliance.
Creating a cleaner, greener market
“With the data that the study has generated, Ionic Technologies will now work with off-takers to quantify the CO2 impact of our products and how this can benefit entire supply chains,” Harrison continued.
“We look forward to announcing to stakeholders the LCA study findings, post peer review, and how Ionic Technologies is demonstrably minimising CO2 impact in the permanent magnet supply chain, creating a cleaner and greener market in this critical technology for advanced manufacturing, defence and the net-zero transition.”
IXR is collaborating with Less Common Metals and Ford Technologies to develop a UK-based supply chain for recycled magnets, backed by UK Government support.
Under the agreement, magnets created from recycled REOs will be delivered to Ford’s EV drive train production facility in Halewood, supporting the US automaker’s European EV drive.
“We are delighted by these preliminary results, which demonstrate that Ionic Technologies is leading the way in decarbonising net-zero technologies, an important consideration for OEMs across the UK/Europe rare earths supply chain,” IXR executive chair Brett Lynch said.
“The study’s final results are expected to show significant benefits from the Ionic Technologies patented process, highlighting the advantages of our ‘made in Belfast’ technology compared to conventional REO production.
“With IonicRE focused on de-risking through de-mining, results like these provide conclusive evidence of the benefits of our process.
“We look forward to exploring these results further with our supply chain partners as we unlock value from our magnet recycling technology for the benefit of all stakeholders.”