The global rare earths market is being disrupted by the introduction of a new technology patented by a Canadian firm. Ionic Rare Earths, Inc. announced their recycling technology which they believe will supply rare earths outside of China, securing supply chains and providing increased competitiveness in the market.
Due to its monopoly in rare earths production, China currently controls the majority of the market. However, with the introduction of Ionic’s innovative technology, this may all change. By utilizing recycling, the company will be able to produce rare earths without having to mine the resource. By not mining, they are not only able to produce the resource without the environmental costs resulting from direct extraction, they will also be able to meet the regional demands of customers quickly, given their reduced reliance on the Chinese market.
The recycling technology was developed through a collaboration between Ionic Rare Earths and various institutes, research centers, and government bodies, including the University of British Columbia’s Rare Earths Program, Genome BC, the B.C. Innovation Council, and the B.C. Mining Innovation Council. Through this collaboration, the company was able to properly research and develop their technology.
The process begins by Ionic collecting the rare earths from the various sources. These sources can include industrial waste, consumer electronics, or even specialty magnets. The materials are then collected and sorted before being processed using the company’s proprietary electrochemical synthesis technology. This process extracts the rare earths from the waste, converting them into usable raw materials. The recovered materials are then processed further to extract the rare earths in a pure form, ready for sale in the market.
Ionic Rare Earths Inc.’s Executive Vice President, Dr. John Dempster, had this to say about the project: “We are proud to be at the forefront of rare earth recycling technology, which has the potential to drive more sustainable and secure supply chains outside of China. We can guarantee reliable supply and performance of our rare earth materials while meeting customer requirements. Our goal is to enable everyone to benefit from the advantages of rare earths in a way that puts rare earths reuse ahead of rare earths mining.”
In the coming years, Ionic Rare Earths Inc.’s recycling technology could provide a much-needed alternative to the current market, which is dominated by Chinese firms. This innovative approach has the potential to provide secure and reliable supply chains of rare earths without the environmental destruction of direct mining. With the right support, the technology could revolutionize the market and benefit both industry and consumers worldwide.
