May 21 (Reuters) – Australia’s Ionic Rare Earths said on Thursday it has agreed to work with U.S.-based critical mineral refining firm Nth Cycle to improve rare earths production outside China.
Here are some details:
• The deal aims to strengthen rare earth refining in the United States and other markets.
• Under the deal, Nth Cycle will supply its recycling and refining technology to support Ionic Rare Earths’ 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,” IonicRE Executive Chairman Brett Lynch said.
• Shares of IonicRE were up 4.5% at A$0.345 in early trade, and on track for their best day in a week, if the current momentum holds.
(Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Sherry Jacob-Phillips)
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