Ionic announces MoU to establish Brazil magnet supply chain

ASX-listed Ionic Rare Earths is advancing its integration into the Brazilian magnet supply chain with the company’ Viridion joint venture (JV) with fellow listed Viridis Mining and Minerals signing a five-year memorandum of understanding a South African rare earth magnet laboratory.

Signed recently in Perth, Western Australia during a state visit, the agreement establishes a basis for cooperation between Viridion and SENAI Regional Department, with a view to jointly develop and produce rare earth magnets at Lab Fab, in Minas Gerais.