{
  "id": 5442058,
  "title": "Ionic Rare Earths, US Strategic Metals form JV to build $100M magnet recycling plant in Missouri",
  "url": "https://urgent.news/2026/09/03/ionic-rare-earths-us-strategic-metals-form-jv-to-build-100m-magnet",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T23:21:22.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/ionic-rare-earths-us-strategic-metals-form-jv-to-build-100m-magnet-recycling-plant-in-missouri/"
  },
  "original_language": "en",
  "account": "Ionic Rare Earths (ASX: IXR) and US Strategic Metals (USSM) have formed a joint venture (JV) to construct a $100 million magnet recycling plant in Missouri. The two companies have agreed to create a 50-50 JV to develop an integrated campus for the production of critical minerals and metals at USSM's 1,800-acre (728.4 ha) fully permitted site near Fredericktown. The primary focus of the JV will be on building magnet and other rare earth recycling facilities to process recycled permanent neodymium-iron-boron (NdFeB) and samarium-cobalt (SmCo) magnets and magnet scrap. USSM will contribute $95 million, while Ionic USA and USSM will each contribute $5 million in equity to fund the initial NdFeB and SmCo magnet recycling facilities. Ionic Technologies, a wholly owned subsidiary of Ionic Rare Earths, will provide a non-exclusive license to its magnet recycling technology under the JV. The companies believe that this JV will provide a practical and capital-efficient method for building rare earth magnet recycling capacity in the United States, a key factor in establishing a secure, sovereign, and sustainable rare earths supply chain.",
  "summary": "Plans to develop an integrated campus for the production of critical minerals and metals at USSM’s 1,800-acre fully permitted site near Fredericktown.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}