Ionic to raise $8m for Belfast demo and commercial rare earths recycling
ASX-listed Ionic Rare Earths has received binding commitments for a placement to raise $8-million, which is poised to be supported by domestic and international institutional investors.
The commitments include a $2-million strategic investment from US-based specialist investment firm Argentem Creek Partners and $500 000 from Ionic Rare Earths directors.
Ionic Rare Earths will use the bulk of the proceeds for works at its Belfast project, in the UK, including to build a demonstration plant and to commercialise recycling technology. The company plans to have the Belfast plant produce 400 t of high-purity separated magnet rare earth oxides a year.
Ionic Rare Earths is focused on advancing a diversified Western rare earths supply chain, including by progressing recycling technology by moving the Belfast plant towards a final investment decision.
The company will issue about 30.8-million new shares at a price of $0.26 apiece, which represents 13.6% of the company's existing issued capital.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation


















