Australia's Ionic advances on inking rare earths supply deal

Ionic Rare Earths

25/05/2026 04:19

** Shares of Ionic Rare Earths IXR.AX rise 9.5% to A$0.345, on track for their strongest trading session since May 13

** Rare earths explorer signs binding sales agreement with U.S.-based Advanced Magnet Lab for the supply of magnet rare earth oxides to be used for key U.S. Department of War customers

** Also signs MoU with Advanced Magnet Lab for collaboration on supply of magnet rare earth oxides and recycling of swarf and pre-consumer waste

** Stock down 19.8% YTD, including the day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))