Ionic Rare Earths Unit's Feasibility Study for UK Manufacturing Facility Shows $2.12 Billion Revenue

MT Newswires Live

Nov 18, 2024

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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Production is scheduled to start by late 2026.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IXR.AU","symbol_name":"IONIC RARE EARTHS LTD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2484616523","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484616523","pubTimestamp":1731913232,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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