The world has witnessed and faced major changes in many aspects of the economy due to the coronavirus pandemic. One of the main concerns raised during this time is supply chain security, especially for rare earth elements. Ionic Rare Earths is an Australian company with a new technology that could help people create more resilient supply chains when it comes to rare earth parts.
Ionic Rare Earths has developed a new technology that allows for the recycling of rare earths, a technology that has been developed over nine years in order to offer more security when it comes to safety, environmental concerns, and distribution challenges. According to Dr Jessica intimately, Ionic’s CEO, the technology not only offers a safe and secure way to extract and recycle rare earths, but also provides a sustainable solution to industry needs for these elements.
The rare earths recycling technology offered by Ionic is unique as it can process over 3,500 different compounds containing rare earths which will then be retrieved and recycled to obtain their elemental particles. This technology also allows for the impurity separation of the elements, making them more valuable and therefore can be used for further refinery processes.
Furthermore, Dr Intimate noted that this technology has the potential to reduce the risk of rare earth shortages by offering a secure and sustainable alternative to traditional supply chains. This is because their process can produce rare earths from consumer products such as electronics recyclable materials, which therefore can detach the industry from towns that solely rely on sourcing from China, allowing for another source of supply of these elements from outside China.
Overall, Ionic Rare Earths’ new technology could transform the world economy when it comes to securing and protecting rare earths supply chains. The recyclable technology is one that not only protects the environment and safety measures, but could also secure an outside source away from China for these elements, creating a more balanced and secure environment for businesses.