Nth Cycle and Ionic Rare Earths Join Forces to Build American Rare Earth Independence

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Joint Development and Licensing Agreement will decrease dependency on China for rare earth refining and chemicals BURLINGTON, Mass., May 20, 2026 /CNW/ -- Nth Cycle, Inc., a critical mineral refining technology company, today announced a Joint Development and Licensing Agreement with Ionic Rare Earths Limited (ASX:IXR or "IonicRE"), a fully integrated rare earth supply chain developer, to establish end-to-end rare earth refining operations in the U.S. and globally. Under the agreement, Nth Cycle will work to develop its proprietary electro-extraction technology into Ionic Rare Earths Limited (IonicRE) rare earth recycling and refining operations, establishing the first production pathway that bypasses China for both long-loop recycling to high purity form, and the chemical agents, specifically oxalic acid, they produce to purify rare earth swarf into oxides for new magnet manufacturing. According to the agreement, Nth Cycle's technology will be integrated into Ionic's Belfast facility beginning in Q4 2026.Oxalic Acid: The Hidden Domestic Dependency on China for Rare Earth Refining China currently refines 90% of the world's rare earth elements found in ore and end-of-life materials, with recovery occurring during precipitation, a step reliant on oxalic acid, a reagent they produce. This creates a hidden dependency facing all domestic refiners building operations onshore. While that capacity will reduce processing in China, it won't reduce dependence on them to process here.Nth Cycle and IonicRE: Building a Resilient Process to Underpin Growth of the Western Rare Earth Supply ChainIonicRE leads western industry in recycling and refining rare earths from pre-consumer magnet swarf and spent magnets. Nth Cycle is the most advanced critical mineral refiner for black mass, and refining technology provider in rare earths, with singular speed and scalability advantages in the supply chain's "missing midstream." Together, the two companies will work to replace the precipitation step in IonicRE's flowsheet with Nth Cycle's electro-extraction closed-loop process, which uses electricity to produce the chemicals—rather than oxalic acid—to convert rare earth recycled feedstocks into high-purity oxides, the solid powders used in magnet metal production.Unlike conventional refining processes for rare earths, where the precipitating oxalic acid agent is consumed and m...

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