Ionic secures licence for Makuutu project in Uganda
Ionic Rare Earths has secured mining licence for the Makuutu heavy rare earth project in Uganda. The large-scale mining license which was secured through the firm’s subsidiary Rwenzori Rare Metals and was issued by the Ugandan Directorate of Geological Survey and Mines (DGSM).
The Makuutu project covers approximately 298 square kilometers and includes six licenses. It is located 40 kilometers from Jinja and 120 kilometers from Kampala, the Ugandan capital. This project is a significant asset in the rare earth elements sector, which are crucial for various high-tech and green technologies.
Makuutu project
The project is reported to have a current mineral resource estimate of 532 million tonnes at 640ppm total rare earth oxides (TREO) with a cut-off grade of 200ppm total rare earth oxides minus cerium (TREO-CeO₂). The geology of the project area hosts heavy rare earth oxides (HREO) that can be extracted using rudimentary mining and processing methods. Ionic Rare Earths released a positive feasibility study for the project and has received approval to build a demonstration plant.
The company is looking forward to advancing the next steps in the development of the Makuutu project and commissioning the Demonstration Plant. They emphasize the importance of the project for the energy transition, advanced manufacturing, and defense industries.
Ionic Rare Earths owns a 51% interest in Rwenzori Rare Metals, the company holding the mining license for the Makuutu project. Rare Earth Elements Africa (REEA) holds a 42% stake, and Ugandan Partners holds the remaining 7%.
“We are pleased with the announcement today that the DGSM has officially approved for granting the large-scale mining licence TN03834 over RL 1693, which now completes all regulatory approvals on the award of the mining licence for the Makuutu heavy rare earth project,” said Ionic Rare Earths managing director Tim Harrison.
