Exhibit 21.1
IMC Rare Earths Ltd
List of Subsidiaries
| Entity Name | Jurisdiction of Formation | |
| IMC Rare Earths Ltd | Saint Vincent and the Grenadines | |
| IMC Rare Earths Participações Ltda. | Brazil | |
| Niobium Brazil Importação e Exportação Ltda. | Brazil | |
| Ionic Clays Brazil Ltda. | Brazil |