• Iondrive commissions a five-tonne IONSolv® production campaign targeting 1.4 tonnes of MREO in Q4 CY2026.
• The campaign aims to recover neodymium, praseodymium, and dysprosium from end-of-life magnets.
• The initiative supports customer qualification and refining programs in North America.

Iondrive Limited has announced the commissioning of its first five-tonne IONSolv® production campaign, targeting approximately 1.4 tonnes of mixed rare earth oxide (MREO) in Q4 CY2026. This campaign, executed through Kingston Process Metallurgy Inc, aims to recover strategically important neodymium, praseodymium, and dysprosium from end-of-life permanent magnets available within the North American supply chain. The campaign is expected to support multiple downstream qualification and refining programs with potential customers, subject to finalisation of specifications and pricing. By leveraging existing North American infrastructure, Iondrive aims to provide a capital-light pathway to producing bulk samples for customer qualification. The campaign is intended to bridge the Company's independently validated laboratory results and the planned development of its proposed first 2,000-tonne-per-annum US commercial module.