South African Palabora vermiculite was modified by ion exchange with ammonium and selected alkali metal and alkaline earth metal ions. In the exchanged vermiculite with ammonium ions, it was found that ammonia and water were the blowing agents and they were simultaneously released during thermal degradation. In the increasing ionic potential series: Na, Ba, Ca and Mg, it was found that the onset expansion temperature also increased dramatically. Exchange with relatively low ionic potential species, namely sodium, potassium and ammonium, lowered the exfoliation onset temperature of vermiculite to below 300 °C.Keywords: Vermiculite; Ion exchange; Exfoliation; Interstratification; Thermal Analysis.