As dependence on China for rare earth minerals increases, Ionic Rare Earths’ breakthrough recycling technology is set to revolutionize the international supply chain.
Ionic Rare Earths’ proprietary recycling technology seeks to address the ever-tightening global supply chain for rare earth minerals. By utilizing advanced thermal processes, its refinery can separate and purify the rare earths from a variety of sources such as industrial wastes, consumer electronics and spent catalysts. As such, this means all countries can access the minerals while reducing their dependence on China.
The company is focusing on neodymium and praseodymium (NdPr) – two rare earths that are important components in the electric vehicle, wind power and robotics industries. With current production restrictions caused by Chinese domination of the market, Ionic aims to reduce the reliance of western countries and secure global supply chains from outside the Far East.
As a result, this will benefit China itself, as the nation is managing its resources in a responsible manner to both protect the environment and extend the life of its rare earth mines. According to clan CoFounder and CEO, Lawrence Deugo, “China is aware of the importance of rarer earths and is looking for ways to limit their impact on the environment while ensuring there is enough to meet their country’s needs and maintain their dominance in the market.”
Overall, the demand for rare earth minerals is soaring, underscores by the fact that the metal neodymium-iron-boron (NdFeB) – is likely to become increasingly valuable for the production of electric vehicles and renewable energy. As such, the development of Ionic Rare Earths’ technology is a crucial breakthrough in securing safe and reliable supply chains for the global market.
By doing so, it will not only help meet the world’s own demand but also reduce its reliance on China for rare earth minerals. This breakthrough could revolutionize the global rare earths market and ensure sustainable supply for the years to come.