Ionic Rare Earths–US Strategic Metals JV: design and process notes for magnet recycling
Reviewed by Joe Ashwell

First reported on MINING.com
30 Second Briefing
Ionic Rare Earths, via Ionic Rare Earths USA, and Missouri-based US Strategic Metals are forming a 50-50 joint venture to build $100 million in NdFeB and SmCo magnet recycling facilities at USSM’s fully permitted 1,800-acre site near Fredericktown, Missouri. USSM will provide $95 million, with a further $5 million equity split between the partners to fund front-end engineering design and accelerate demonstration-scale recycling. Ionic’s Belfast subsidiary, Ionic Technologies, will license its magnet recycling process to recover high-purity, separated rare earth oxides from magnets, magnet scrap and other heavy-REE-bearing compounds.
Technical Brief
- JV facilities will process end-of-life NdFeB and SmCo magnets plus production magnet scrap streams.
- Integrated campus concept allows co-location with other critical mineral and metal processing at USSM’s 1,800-acre site.
- Ionic Technologies’ contribution is a non-exclusive licence, enabling parallel deployment of the same flowsheet elsewhere.
- Licence scope extends beyond magnets to other heavy-REE-bearing compounds, broadening potential feedstock envelopes.
- Initial $5 million equity tranche is earmarked for front-end engineering design and on-site demo-scale operations.
- Location near Fredericktown leverages an already fully permitted industrial footprint, shortening environmental and planning lead times.
- For other REE projects, the model illustrates a capital-light route by separating IP ownership from plant equity.
Our Take
Ionic Rare Earths’ JV in Missouri deepens its US footprint alongside its supply agreements with Florida-based Advanced Magnet Lab and the US Defense Logistics Agency, suggesting the recycled NdFeB and SmCo output is likely to be pulled into defence‑linked magnet qualification programmes already covered in our database.
The 50:50 JV structure but US Strategic Metals providing US$95 million of the initial facilities funding implies IonicRE is primarily contributing proprietary recycling and separation technology rather than balance sheet, a pattern consistent with its earlier tech‑led collaboration with Nth Cycle on electro‑extraction for rare earth recycling.
This Missouri magnet recycling plant complements IonicRE’s UK–European work on end‑to‑end recycled rare earth supply chains for EV motors, positioning the company as one of the few in our Mining coverage building parallel circular-rare-earth routes on both sides of the Atlantic rather than relying solely on primary mine supply.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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