Developing a Long Life, Low Cost and High Value Critical and Heavy Rare Earths Project
Stock Code:
ASX: IXR
Company Exposure:
Rare Earths
Project Locations:
Uganda
Ionic Rare Earths is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant, long life, low-cost, supplier of high-value critical and heavy rare earths. Makuutu is an advanced-stage, ionic adsorption clay (IAC) hosted rare earth element (REE) project highlighted by near-surface mineralization, significant exploration upside, excellent metallurgical characteristics, and access to tier-one infrastructure. The clay-hosted geology at Makuutu is similar to major IAC rare earths projects in southern China, which are responsible for the majority of global supply of low-cost rare earths, specifically the high value Heavy Rare Earths (>95% originating from IAC). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a low-OPEX process route. Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water, and a professional workforce.
Investment Highlights
- Unique opportunity – vastly different to the numerous Rare Earth Elements (REE) hard rock projects looking for financing
- Exploration programme has defined Mineral Resource Estimate with scope for a material near term update
- Metallurgical results indicate simple low-CAPEX and low-OPEX mining and processing operation potential allowing modular expansion to ramp up REO production
- Strategically and geopolitically significant Critical/Heavy Rare Earths supply in stable jurisdiction
- Strong third-party strategic interest in Makuutu as an Ionic Adsorption Clay (IAC) hosted REE deposits given demonstrated simple low-cost nature
- Active development pathway leading to regular news flow over the next 6 months into Q2 2021
- Experienced, motivated and proven team in place to advance Makuutu through development to operations stage
