• Ionic’s mining licence TN03834 has been approved for granting at Makuutu, the company’s flagship rare earths project in Uganda
  • The mining licence covers retention licence 1693, the focus of the Stage 1 feasibility study

 

Ionic’s large scale mining licence at the Makuutu heavy rare earth project has been approved for granting by the Uganda Directorate of Geological Survey and Mines (DGSM).

Ionic’s (ASX:IXR) flagship Makuutu project in Uganda, 60% owned by Ionic through local Ugandan operating entity, Rwenzori Rare Metals (RRM), is an ionic clay hosted rare earth element (REE) deposit, with mineralisation stretching 37km within the company’s tenure.

The project is one of the most advanced heavy rare earth projects globally with its Stage 1 DFS outlining a 35-year life initial project producing a 71% rich magnet and heavy rare earth carbonate (MREC) product basket.

The DFS for RL1693 – the first of six tenements to progress to a mining licence application (MLA) – also highlighted the potential for significant scale up through additional tenements.

 

Approval for granting

IXR’s large scale mining licence TN03834 has now received approval for granting by the Uganda Directorate of Geological Survey and Mines (DGSM) and follows the gazetting of Uganda’s updated Mining and Minerals framework.

The MLA has been signed and gazetted in Uganda paving the way for the formal issuance of the mining licence once the first annual fees have been paid and land access to the RL1693 has been verified by the Ugandan department.

TN03834 covers 44km2 of the project’s near 300km2 of tenements at Makuutu.

 

‘Important milestone’

IXR managing director Tim Harrison says the approval to grant the mining licence by the DGSM is an important milestone for the project.

“[This] completes all regulatory approvals on the award of the Mining Licence for the Makuutu project,” he says.

“This is a vital step for Ionic Rare Earths and Rwenzori, and in mining, refining, and recycling heavy rare earths critical for the energy transition, advanced manufacturing, and defence.

“This announcement reinforces the Makuutu project as one of the world’s largest and most advanced development-ready heavy rare earth element assets, and we look forward to progressing the next steps and commissioning our demonstration plant at Makuutu.”

IXR has been advancing construction works of its demonstration plant at Makuutu, a smaller version of the real thing.

The demonstration plant—which really isn’t that small at all – will allow the company to validate its test work and provide a strong basis for grade control, mine design, material handling, and metallurgical reconciliation prior to full scale production.

 

 

This article was developed in collaboration with Ionic Rare Earths, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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