Australia's Ionic Rare Earths hits 3-month high on UK funding for unit

Ionic Rare Earths

27/01/2026 24:44

** Shares of Ionic Rare Earths IXR.AX rise 6.5% to A$0.575, their highest level since October 27

** Co says its unit has been provided an Offer in Principle capital grant of 12 million euros ($14.26 million) by the UK government to support delivery of a commercial magnet recycling facility in Belfast

** Shares rise for a fourth straight session

** About 1.3 mln shares change hands, 1.9x the 30-day average of 720,111

** Stock more than doubled in value last year

($1 = 0.8417 euros)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((Jasmeenaraislam.Shaikh@thomsonreuters.com;))