https://newsletter.en.creamermedia.com
Business|Mining|Projects|Refinery|Refining|Technology|Operations
Business|Mining|Projects|Refinery|Refining|Technology|Operations
business|mining|projects|refinery|refining|technology|operations

Ionic to raise $3m for working capital

29th May 2025

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Ionic Rare Earths (IonicRE) has received firm commitments to raise $3-million before costs from sophisticated and professional investors through the issue of convertible notes.

The funds raised will be used for working capital, including to progress the development of projects in the UK, the US and Brazil, as well as its Makuutu mine, in Uganda.

The capital raising is subject to shareholder approval, which the company intends to seek at an extraordinary general meeting in July.

IonicRE's business involves mining of magnet and heavy rare earths at Makuutu, developing a standalone heavy rare earth refinery to separate magnet and heavy rare earths for downstream value addition and recycling spent neodymium iron boron magnets and swarf into separated and refined magnet rare earth oxide.

IonicRE subsidiary Ionic Technologies has built a demonstration plan in Belfast, in the UK, for magnet recycling and heavy rare earth separation and refining.

The company plans to replicate its UK magnet recycling technology in the Brazilian state of Minas Gerais, through a joint venture with Viridis Mining and Minerals.

It also plans to further expand its refining and magnet recycling operations to key markets in North and South America, Europe and Asia.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Image of Shesh@5G Motor Bike Sim Delivery Service
MTN launches Shesh@5G sim delivery service
Updated 53 minutes ago By: Natasha Odendaal

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.214 0.305s - 170pq - 2rq
Subscribe Now