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Ionic Rare Earths Limited (ASX: IXR) is developing the Makuutu Rare Earths Project (Makuutu) to be a globally significant producer of the both Heavy Rare Earths Oxides (HREO) and Critical Rare Earth Oxides (CREO), providing a viable large scale, low cost alternative supply chain outside of China.
The Company presently owns 51% of the Makuutu Rare Earths Project and will move to 60% ownership through an earn-in arrangement.
Makuutu, located 120 km east of Kampala, Uganda, is an ionic clay hosted rare earth element (REE) deposit, with mineralisation stretching 26km within the Company’s tenure. The deposit is shallow and therefore inexpensive to mine. Additionally, processing will be very simple with the ionic REE desorbed (washed) from the clay into solution where it is extracted to make a high purity intermediate REE product, with the product basket containing high proportions (> 50%) of the critical rare earths Dy, Nd, Pr, Tb and Y.
The current aim to is to develop Makuutu to production in a staged approach, enabling rapid commercial production. Production will be increased through the additional of parallel modules. This vision will likely position Makuutu as one of the lowest cost rare earth production operations in the world, and a key strategic supplier of both CREO and HREO products to downstream users.
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