IonicRE awarded BB ESG rating

IIonicRE has been awarded an overall ESG rating of “BB” on both corporate and Makuutu Rare Earth Project in Uganda. The firm received the award from globally recognised ESG experts from Digbee (“Digbee”) after passing several factors.

Digbee awarded those individual factors a score that ranged from C to AA. The BB score achieved by IonicRE is an average of all scores and IonicRE acknowledges that there is the potential to reflect C or AA depending on action or inaction taken to manage ESG risks and opportunities. The top 5 rating bands of AAA to BB give credit for present positives/opportunities whereas the bottom five rating bands (B to D) reflect present negatives/threats.


Ionic Rare Earths Limited (“IonicRE”) is focused on developing its flagship Makuutu Rare Earths Project (“Makuutu”) in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Rare earth metals are a critical material required for the global energy transition and the Makuutu project is well located to take advantage of a number of sustainable benefits, such as hydropower. Makuutu is being developed by IonicRE’s 51% owned Ugandan subsidiary, Rwenzori Rare Metals Limited (RRM). This inaugural submission and review by Digby, demonstrates IonicRE’s continued strong commitment to ESG integration, reporting transparency and continuous improvement.

“The Board and staff of IonicRE and subsidiary company Rwenzori Rare Metals are pleased with our maiden overall ESG award of “BB” and acknowledge that this range provides some near-term opportunities for improvement. As the improvements are embedded in our current operations, we look forward to preparing our next submission and demonstrating improvement as we advance Makuutu towards development and operations.” Tim Harrison, Managing Director of Ionic Rare Earths commented.



Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button