Australia's Ionic Rare Earths rises on inking magnet supply chain deal

Viridis Mining and Minerals

06/11/2024 24:08

** Shares of Ionic Rare Earths  IXR.AX  up 5.6% to A$0.0095,
on track for their best day since Oct. 28, if current trends
continue
    ** Non-gold precious metals miner says its joint venture,
Viridion, signs MOU with SENAI FEIMG Innovation and Technology
Centre to establish Brazilian magnet supply chain
    ** Under agreement, parties to jointly develop and produce
rare earth magnets
    ** Viridion is co's Brazilian JV with Viridis Mining and
Minerals  VMM.AX 
    ** Stock down 63.5% YTD, including today's moves

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))