Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has welcomed a strong show of support from Uganda’s Minister for Energy and Mineral Development for the licensing and development of the Makuutu Heavy Rare Earths Project.
The support from Dr Ruth Nankabirwa Ssentamu “reinforces the project as one of the world’s largest and most advanced development-ready heavy rare earth element assets," said IonicRE’s managing director Tim Harrison.
The support came when Tim Harrison met with the Minister at the Africa Down Under Mining Conference 2023 from September 6-8 in Perth.
Committed to mining sector
In indicating her support for IonicRE’s flagship Makuutu Heavy Rare Earths Project, the Minister said the Makuutu project was one of the world’s best rare earths resources.
“Uganda is committed to the development of its mining sector, in line with the Mining and Minerals Act 2022, and its 2040 Vision.
“Under this new framework, we look forward to granting approval of the mining licence application to Ionic Rare Earths Ltd. and Rwenzori Rare Metals Ltd.
“This is a flagship project to establish Uganda as a strategic partner in global supply chains for heavy rare earths," the Minister said.
Supporting green energy transition
During the conference, Australia’s Minister for Resources Madeleine King also spoke highly of the partnership between Australia and Uganda represented by Makuutu.
Minister King noted that the abundance of natural resources in African nations that helped to produce critical clean energy technologies presents “great opportunities for us to work together across international borders.”
“An example, because I know they’re represented at this conference, is Australian company Ionic Rare Earths. Ionic Rare Earths operates in Uganda and develops rare earths from ionic clay projects.”
“The company is focused on developing its flagship Makuutu Rare Earths Project to become a significant supplier of critical and heavy rare earths to support the global green energy transition,” Minister King said in an address.
“Clear framework”
IonicRE’s managing director Tim Harrison said new laws in Uganda’s mining sector had facilitated a conducive mineral investment climate.
“Uganda’s new mining laws and regulations offer a clear framework for mineral development in Uganda.
"We welcome the Ugandan Government’s support for expediting approvals for the Makuutu project, reinforcing the project as one of the world’s largest and most advanced development-ready heavy rare earth element assets."