An Australian mining company announced Thursday it has formed a partnership with a United States-based mineral processing firm to enhance rare earth element production outside of China.
Ionic Rare Earths revealed its collaboration with Nth Cycle, a critical mineral refining company, designed to bolster rare earth processing capabilities in America and other international markets.
The partnership will see Nth Cycle providing its specialized recycling and processing technology to enhance Ionic Rare Earths’ mining operations.
“Nth Cycle’s technology pathway not only lowers costs, but also addresses critical supply chain vulnerabilities, exactly the kind of partnership that can make ex-China refining viable,” said IonicRE Executive Chairman Brett Lynch.
Following the announcement, IonicRE stock prices climbed 4.5% to A$0.345 during morning trading sessions, putting the company on pace for its strongest single-day performance in a week if the upward trend continues.
