Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has been provisionally granted the Makuutu Central Zone Large Scale Mining Licence (LML) 00334 over Retention Licence (RL) 1693, pending receipt of formally signed documents and gazetting in Uganda.
The licence clears the way for mining at the Makuutu Rare Earths Project and marks the first large-scale mining licence to be awarded in Uganda.
IXR says the licence facilitates the development of supply chain engagement to support sustainable, secure and traceable magnet and heavy rare earth elements supply to the global economy and the emerging battery and future metals market.
Important step forward
Ionic Rare Earths managing director Tim Harrison said the provisional award was part of the official commitment from the Government of the Republic of Uganda and cleared the path for the Makuutu Project and the ongoing development of Uganda’s mining industry.
“This is an important step forward for Ionic Rare Earths in mining, refining and recycling the heavy rare earths critical for the energy transition, advanced manufacturing and defence,” Harrison said.
“This reinforces the Makuutu Heavy Rare Earth 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.”
The company’s demonstration plant is on track to produce the first mixed rare earth carbonate in the first quarter of next year.
IXR has also reached an agreement with its partners in Rwenzori Rare Metals Ltd to move up to a 94% interest in Makuutu, securing its claim to one of the most advanced Ionic adsorption clay projects in development that has yet to commit its product to Chinese markets.