Viridion

Viridion, a 50/50 JV with Viridis Mining & Minerals (ASX: VMM), holds exclusive rights in Brazil to monetise, implement and commercialise Ionic Technologies’ magnet recycling IP.

The joint venture is advancing development of a REO refinery and magnet recycling facility in the state of Minas Gerais, Brazil to develop a closed-loop supply chain and circular economy for REE and NdFeB magnets in South America.

Under a MOU with CIT SENAI FIEMG Innovation and Technology Centre, Viridion also aims to develop South America’s first rare earth magnet supply chain.

“IonicRE is building a global industrial business and Brazil is an important piece of this puzzle, being a major advanced manufacturer at the heart of the South American economy” – IonicRE Executive Chairman, Brett Lynch

As it stands, China currently holds a more-or-less monopoly over REE, REOs and NdFeB magnet supply chains, which has created sovereign security vulnerabilities and strategic risks, as trade restrictions, pricing controls, or geopolitical conflicts could disrupt access to these critical materials, threatening defence, space, advanced manufacturing, and renewable energy capabilities.

This project will see Brazil maintain a closed-loop supply chain and circular economy for NdFeB magnets, critically allowing it and its neighbours to shield itself from global security concerns that surround REE and NdFeB magnet supply chains. Brazil’s national security as well as its advanced manufacturing, defence, and renewables sectors will greatly benefit by being able to insulate its supply chain and maintain a circular economy.

IonicRE Managing Director, Mr Tim Harrison adds: “Brazil has enormous potential as a new market for our patented magnet recycling technology, with magnet recycling likely the first step in developing a domestic integrated supply chain.

“The production of magnet REOs within Brazil will enable the ramp up of magnet production

capability at CIT SENAI’s LabFab facility, which is targeting a ramp up in NdFeB production to 100 tonnes per annum by the end of 2026.

“We also plan to recycle waste streams produced in the ramp up of activities, which will enable the development of a truly insulated and secure NdFeB supply chain in Brazil that can support significant advanced manufacturing activities.

“Brazil represents a very exciting opportunity for the Company. The South American giant is currently the world’s seventh largest wind energy market, growing at 29% CAGR over the past decade, and will be a wind energy powerhouse into the future. Additionally, the establishment of EV production capacity in Brazil along with existing and growing advanced manufacturing capacity will drive further demand for REO’s in what is presently the world’s 10th largest economy”.

MoUs & Initiatives:

• Five-year MoU signed with CIT SENAI FIEMG – The Innovation and Technology Centre of Minas Gerais, Brazil;
• Progress is advancing to secure a site for both plants – the REO refinery plant and the magnet recycling facilities near existing Viridis operations.
• Invest Minas backs IonicRE’s magnet recycling technology via Viridion JV;
  • At a December 2024 meeting in Belo Horizonte, Ronaldo Barquette, Director of Investment Attraction at Invest Minas highlighted IonicRE’s involvement in building Brazil’s magnet recycling project, commenting: “A notable example is the rare earth magnet recycling project, made possible through a partnership between the State Government, institutions such as FIEMG, universities, and private companies such as Ionic Rare Earths, Viridis, among others”