Ionic Rare Earths (ASX:IXR), a rare earths and magnet recycling company, was weak alongside critical minerals stocks. In June 2026, Pengana Capital Group noted its critical minerals processing and mining stocks were all weak during the month, describing the decline as puzzling given supportive policy news for the sector. Ionic Rare Earths operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Pengana Capital Group. Founded in 1998 and headquartered in Melbourne, Ionic Rare Earths develops rare earth magnet recycling and refining technology, operating a recycling plant in Belfast, Northern Ireland, and is developing the Makuutu ionic clay rare earths project in Uganda and refining capability in Brazil, aiming to supply magnet rare earths outside China.