(NewsDirect)
Ionic Rare EarthsLtd (ASX:IXR) managing director Tim Harrison joins Jonathan Jackson inthe Proactive studio as the company sets itself to become the firstASX-listed company to produce magnet rare earth oxides (REOs) fromrecycled wind turbines. Harrison highlights the company's journeytowards becoming a major producer of recycled separated magnet REO, amilestone that positions IonicRE as a frontrunner in establishing asustainable supply chain outside China.
IonicRE's innovative approach targets therecycling of permanent magnets from decommissioned wind turbines, amarket that is rapidly expanding, particularly in Europe. Thecompany's Belfast Demonstration Plant is making significantstrides in magnet REO production, with a focus on the processing ofNdPr/DyHo separation following the successful creation of mixed REOproducts.
In2023, the European wind energy sector saw the decommissioning of 736MW of power across nine countries, indicating a substantialopportunity for IonicRE's recycling initiative. With more than3,000 wind turbines in Ireland alone, IonicRE is at the forefront ofdelivering a secure, clean and green supply chain, crucial for thewind farm industry and broader renewable energy sectors in achievingglobal decarbonisation goals.
The company's executive chairman Brett Lynchsaid: “This is a major step forward in the development of anex-China supply chain, with IonicRE offering the potential to becomethe first and only REO recycler from wind turbine magnets in theWestern world.
“The size of the prize is significant, given the tremendousrate of growth in the wind turbine market, particularly given ourproximity to the UK and Northern Ireland wind farms market with thePort of Belfast on our doorstep.
"With over 3,000 wind turbines located acrossthe island of Ireland, the opportunity is compelling."
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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