Australia's Iondrive hits 2-week high on eWaste supply deal to recover rare earths

Iondrive

01/09/2025 01:57

** Shares of Iondrive ION.AX rise as much as 20% to A$0.054, their highest level since August 18; last up 11.1%

** At the current level, the battery recycling company is heading for its best day since mid-August, if gains hold

** Co signs binding deal with Colt Recycling, a U.S. eWaste processor, to recover rare earth elements from eWaste

** Under deal, Colt will supply Iondrive with eWaste feedstock for processing to recover rare earth elements

** Stock up 66.7% this year, including the day's move

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))