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Ionic Rare Earths to Supply Advanced Magnet Lab With Rare Earth Oxides

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Ionic Rare Earths (ASX:IXR) signed a binding sales agreement to supply US-based Advanced Magnet Lab with magnet rare earth oxides including neodymium/praseodymium oxide and dysprosium oxide, according to a Monday filing with the Australian bourse.

The companies have also entered a non-binding memorandum of understanding to collaborate on both the supply of magnet rare earth oxides and the recycling of swarf and pre-consumer waste, per the filing.

Under the partnership, Advanced Magnet Lab will supply swarf and waste streams to Ionic Rare Earths, which will recycle them back to separated magnet rare earth oxides for return to Advanced Magnet Lab.

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