IonicRE Acquires Rare Earth Separation Company SerenTech

ASX-listed Ionic Rare Earths Limited (IonicRE) has entered into a binding term sheet to acquire a UK-based rare earth separation technology company called Seren Technologies (SerenTech).

SerenTech holds a patent license from Queens University Belfast that allows it to develop and commercialize technologies related to multifunctional amide ionic liquids (MAIL) for the separation of rare earth metals.

The company has also developed further technology in this area and has applied for four global patents, which provides an opportunity to deploy the technology.

The technology uses MAIL to separate and refine rare earth elements, including all of the metals mined at the Makuutu project in Ionic, Uganda. The mine's resources include lanthanum, lutetium, scandium, and yttrium. This acquisition is another step in IonicRE's transformation into a vertically integrated rare earths company.

"The addition of SerenTech will provide the company with additional rare earth separation capabilities and refinement of individual rare earth elements into high purity oxides, which will further our plans to unlock additional value from the unique key and heavy rare earth baskets that will be produced at Makuutu," said Tim Harrison, Ionic MD.

The acquisition of Seren Technologies gives Ionic immediate rare earth separation and refining capabilities for high-purity products, particularly the recovery of neodymium magnets. SerenTech has demonstrated its ability to separate magnetic rare earths - neodymium, praseodymium, dysprosium and terbium.

This provides an opportunity for targeted deployments in key markets in the U.S., Europe, and Asia where existing magnet inventories exist and current recycling technologies fail to achieve similar rare earth element extraction results, providing a stepped-up advantage and the ability to gain a first-mover advantage in new neodymium/praseodymium supply.

IonicRE is focused on developing its flagship Makuutu rare earth project in Uganda into a significant long-term, low-cost, high-value supplier of key and heavy rare earth elements.

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