- Construction at the Makuutu Demonstration Plant continues to progress well with first Mixed Rare Earth Carbonate (MREC) on track to be produced early in Q1 2024;
- Technical facility shed erected, and internals now being constructed to house laboratory and offices;
- Grade control drilling for initial trial mine test pit progressing and expected to be completed this month;
- Makuutu will soon be producing MREC Product to send to potential customers and offtake parties for testing, where third party interest in partnering with the Company remains very strong;
- The provision of MREC product from Makuutu will be a key milestone in the development of the Project with the Mining Licence expected to be granted shortly; and
- Makuutu's basket contains 71% high value magnet and heavy rare earths content and is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across
The Company expects that it will produce its first mixed rare earth carbonate (MREC) from the Makuutu Demonstration Plant early in Q1 2024, which will be a major milestone in the development of the Project. This product will be able to be sent to potential customers and off takers who have showed interest in partnering with the Company to secure magnet and heavy rare earth product from the Project once it becomes an operational mine. The Company expects the near-term award of the mining licence for Makuutu, as announced to the market on
The Makuutu Demonstration Plant technical facility will aim to further optimise metallurgical test work outputs and provide technical validation for the detailed review of the Stage One DFS being undertaken by
Grade control drilling on one of two identified test pit locations is progressing well and is expected to be completed this month.
IonicRE's Managing Director Mr
"The progress allows IonicRE and RRM to harness our processing innovations to accelerate and validate mine development with a clear plan to production and profitability," Harrison said.
"This Demonstration Plant at Makuutu is a key milestone for the supply chain engagement with product to be produced here likely to be sent to potential off-take partners in early 2024. Makuutu is a globally strategic resource for near-term development and long-term security of magnet and heavy rare earth oxide (HREO) supply," he said.
"Our focus on the delivery of the
The Company continues to build its execution and Ugandan Demonstration Plant operations team with several new appointments made, and key input received from newly appointed engineering contractor
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About
Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.
The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in
Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.
Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.
IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.
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