• U.S. policy supports domestic rare-earth processing and recycling
• Independent validation confirms high recovery rates from U.S. feedstock
• Oklahoma offers up to $5.2M in incentives for first module
• Focus shifts to feedstock supply, product qualification, and funding
• New U.S. leadership appointed to drive commercialization

Iondrive Limited, an Australian developer of a modular platform technology for the sustainable recovery of critical minerals, reported significant progress in its U.S. rare earth strategy for the quarter ended 30 June 2026. The company's IONSolv™ technology demonstrated high recovery rates of key magnet rare earths from commercial U.S. feedstock, with independent validation confirming recoveries of 93.5% dysprosium, 96.5% neodymium, and 96.5% praseodymium. The Oklahoma Department of Commerce provided a Letter of Support, offering potential incentives of up to $5.2 million for the first module. Iondrive's focus has shifted to securing scalable feedstock, qualifying products, and finalizing the engineering and funding for the first module. The company appointed Kevin Hobbie as Vice President North America to lead these efforts. Iondrive's CEO, Lewis Utting, highlighted the strategic importance of the U.S. market and the company's positioning to capitalize on the growing demand for domestically sourced rare earths.

Iondrive expects to secure feedstock, qualify products, and finalize engineering and funding for the first Oklahoma module.

Iondrive aims to establish a traceable U.S. feedstock-to-market loop, securing sufficient magnet-bearing material and qualifying the resulting rare-earth product with potential downstream customers.