Ionic Rare Earths (ASX:IXR) unit, Ionic Technologies' feasibility study for developing a rare earth oxide manufacturing facility in Belfast, UK, showed net revenue of $2.12 billion, according to a Friday filing with the Australian bourse.
The study also yielded earnings before interest, taxes, depreciation, and, amortization of $1.78 billion with a capital payback of 2.4 years, the filing said.
The total estimated cost to complete the facility in the Belfast Harbour is $108.7 million.
The production capacity of 400 tonnes per annum of separated magnet rare earth oxides represents a 40-fold increase in production capacity compared with the demonstration plant, the filing added.
The company is set to apply for a "significant capital grant" from the UK government for the facility. Production is scheduled to start by late 2026.
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