MELBOURNE, Nov 10 (Reuters) - Ionic Rare Earths ( IXRRF )

said on Monday it has signed a non-binding memorandum of

understanding with US Strategic Metals to build a recycling

facility that will produce rare earth oxides, including those

subject to export restrictions from China.

KEY DETAILS

*The Missouri recycling facility is expected to produce

significant quantities of neodymium and praseodymium (NdPr) as

well as heavy rare earths including dysprosium, terbium,

samarium, gadolinium, and holmium, the companies said in a joint

statement.

*The agreement focuses on rapidly producing high-purity,

separated magnet rare earth oxides, with potential expansion to

include a wide range of magnet and heavy rare earths from a

range of strategically sourced mixed rare earth carbonates, the

statement said.

KEY QUOTE

*"Magnet recycling is the fastest and lowest-cost pathway to

developing an ex-China rare earth supply chain in the United

States," Ionic Rare Earths Managing Director Tim Harrison said.

KEY CONTEXT

*Ionic Rare Earths ( IXRRF ) said it was looking to replicate the

capability it has demonstrated at its Belfast recycling plant to

provide a strategic supply of magnet and heavy rare earths into

the U.S. supply chain.

*The MOU comes after the U.S. and Australia signed a

wide-ranging critical minerals agreement last month with an aim

of countering China's hold over the industry.