Ionic Rare Earths and Viridis Mining and Minerals joint venture Viridion has signed a memorandum of understanding (MoU) with the owner of Lab Fab, the first rare earth magnet laboratory in South America, to secure rare earth magnet production capacity.
The new pact with SENAI FIEMG Innovation and Technology Centre of Minas Gerais is set to make Viridion the first Brazilian producer of refined rare earth oxides (REOs) from either a mixed rare earth carbonate (MREC) or from recycling of spent magnets. It will use IP from IonicRE’s 100%-owned UK subsidiary, Ionic Technologies.
Viridion said it will be launching scoping studies on the project, and ultimately REO refinery and magnet recycling facilities, in January 2025 – after it completes production of MREC from its Southern Concessions at Colossus.
The pair, which inked their partnership during a state visit in Perth, Western Australia, are looking at several locations capable of supporting pilot plants for both the refinery and recycling facility in Poços de Caldas, Minas Gerais. Also ahead are plans for joint projects of applied research, assessment activities, experiments, training, consulting and specialised technological services.
“This latest agreement is a major step forward for the Viridion JV, helping to unlock magnet recycling’s significant role in the development of initial REE supply chains in new markets such as Brazil,” said Ionic Rare Earths managing director Tim Harrison.
“The production of magnet REOs within Brazil will enable the ramp up of magnet production capability at CIT SENAI’s LabFab facility, which is targeting a ramp up in NdFeB production to 100 tonnes per annum by the end of 2026. We see the JV as the natural partner to help deliver this within the timeframe via recycling.”
He added that, by working with LabFab, the two will also be able to recycle waste streams produced in the ramp up of activities, which will enable the development of a truly insulated, secure NdFeB supply chain in Brazil that can support significant advanced manufacturing activities underway in that market.
IonicRE executive chairman Brett Lynch added: “IonicRE is rapidly becoming a significant participant in the global rare earths supply chain, and this MOU provides further demonstration of the growing demand for secure, sustainable and traceable supply.
“Our magnet recycling technology based in Belfast, UK is on a fast-track to commercialisation targeting UK/European markets. It is the potential replication of this technology into new markets in South America, North America and Asia that is extremely exciting for shareholders as we execute our global growth strategy, hyper-scaling this closed loop technology for the circular economy of the 21st century.”
Source: ionicre.com