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Ionic Rare Earths Limited (ASX: IXR or IonicRE) is securing critical elements for the new economy, harnessing our technology to accelerate mining, refining and recycling of magnet and heavy rare earths critical for energy transition, advanced manufacturing and defence.
The Company owns 60% of the Makuutu Rare Earths Project in Uganda. Makuutu is one of the world’s most advanced, large-scale, low-capital cost, Ionic Adsorption Clay (IAC) deposits. Makuutu is receiving global interest due to the prized and uniquely balanced basket of 71% high-value magnet and heavy rare earth elements.
In March 2023, IonicRE announced a positive Stage 1 Definitive Feasibility Study (DFS) with an initial 35-year mine life for the first mining licence application (MLA) applied over RL1693. Makuutu has six (6) tenements in total with each to progressively move to a MLA over the next decade. The 300 square kilometres of tenements cover the 37-kilometre-long mineralised body with near surface, low strip ratio IAC mineralisation.
IonicRE is now building a Demonstration Plant at Makuutu, with maiden mixed rare earth carbonate (MREC) expected in Q1 2024 – a new primary source of magnet and heavy rare earths product to feed into new supply chains forming across the European, US, UK and Asian markets.
Ionic Technologies International Limited, is a 100% owned UK subsidiary, with patented extraction technologies which transform end of life / spent magnets and waste (swarf) into high value, separated and traceable magnet rare earth oxides (REO) with grades exceeding 99.5%, suitable for use in new sintered permanent magnets (NdFeB). The ‘cookie-cutter’ technology has the potential to support sovereignty of secondary supply chains, and, is a key input to establish the UK’s electric vehicles (EV) manufacturing industry with partners such as the UK Government, Ford, and Less Common Metals, with potential expansion into the EU, US and other advanced manufacturing markets.
IonicRE continues to explore its own magnet and heavy rare earth refinery, or hub, to separate the IAC baskets into the full spectrum of REOs plus scandium. This forms part of an integrated strategy to create downstream supply chain value.
IonicRE aims to completes the circular economy of sustainable and traceable magnet and heavy rare earth elements which have the capacity to unlock a portion of the global push for energy transition.
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