Ionic Rare Earths Limited (ASX: IXR) continues to progress the construction of the technical facility and demonstration plant at the Makuutu Rare Earths Project in Uganda, through the local Ugandan operating entity Rwenzori Rare Metals Limited (RRM).
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.
Tim Harrison, managing director, commented, “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.”
“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.”
The 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.
Further, the Makuutu demonstration plant technical facility will aim to further optimize metallurgical test work outputs and provide technical validation for the detailed review of the Stage One DFS being undertaken by DRA Global. Process commissioning is expected to start later this year once construction has been completed and equipment, in transit from Australia, has been delivered and installed at the facility.
Mr. Harrison continued, “Our focus on the delivery of the Makuutu Heavy Rare Earths Project in Uganda positions us to provide a secure, sustainable, and traceable supply of magnet rare earth oxides. Along with our Ionic Technologies Belfast recycling facility, Makuutu is key to us harnessing our technology to accelerate mining, refining, and recycling of magnet and heavy rare earths that are critical for the energy transition, advanced manufacturing, and defence.”
To find out more, please visit www.ionicre.com.au
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