Takeaways by Bloomberg AI
- Ionic Mineral Technologies LLC is considering an initial public offering as early as 2027.
- The company has a rare earth deposit in Utah and is working to build out its project ahead of a potential listing.
- Ionic’s Silicon Ridge project contains key rare earths and critical minerals crucial for consumer electronics, car batteries,
and fighter jets.
By Jacob Lorinc
February 5, 2026
Ionic Mineral Technologies LLC is considering an initial public offering as early as 2027, as US miners race to build a domestic supply chain for rare earths and other critical minerals.
The Utah-based company, which has a rare earth deposit in the state, hired Citigroup Inc. last year and is working to build out its project ahead of a potential listing, said Chief Executive Officer Andre Zeitoun.
“I think we want to have our off takes completed, we want to have our scale up funding completed and our strategic partners arranged,” Zeitoun said in an interview. “From there, we’re looking at a 2027 IPO.”
Ionic is considering the move as the US steps up efforts to establish a critical-minerals supply chain independent of China. Under President Donald Trump, the White House has plowed billions of dollars into on shoring initiatives, including taking equity stakes in miners and streamlining permitting for key projects around the country. The push gained momentum this week when the administration unveiled plans for an almost $12 billion stockpile of critical minerals.
Ionic’s Silicon Ridge project contains key rare earths, including terbium, dysprosium and neodymium-praseodymium, which are crucial for consumer electronics, car batteries and fighter jets. It also contains critical minerals such as gallium, germanium, cesium and scandium.
The company has secured permits for Silicon Ridge and expects to release a construction cost estimate later this year, Zeitoun said. The deposit is a type of geological formation — known as a halloysite-hosted ion-adsorption clay — the same type found in China, which produces most of the world’s heavy rare earth elements.
“We have a domestic, shovel-ready source for a full spectrum of critical minerals, all extractable with a faster, cleaner process than traditional hard rock mining and extraction,” Zeitoun said.