IonicRE's Makuutu Project Set to Boost Global Rare Earth Supply for EVs and Tech
Ionic Rare Earths Limited (IonicRE) is making strides in the development of the Makuutu Rare Earth Project in Uganda. The project's unique ionic adsorption clay (IAC) deposit holds significant potential for high-value, low-radionuclide magnet and heavy rare earths, crucial for renewable energy, electric vehicles, and defence industries.
The Makuutu deposit is rare outside of southern China and Myanmar, with its magnet rare earths content representing 33% of the product volume but 85% of the product value. This could potentially support the production of up to two million electric vehicles (EVs) annually. IonicRE aims to unlock this value through heavy rare earths separation and refining capabilities, as well as magnet recycling, forming key supply chain partnerships.
IonicRE's commitment to responsible development is evident in the completion of an Environmental and Social Impact Assessment (ESIA) and ongoing public hearings in Uganda. The company is also exploring advanced technologies like hyperlink solvent extraction and ionic liquids for heavy rare earths separation, having acquired Seren Technologies Ltd for this purpose.
The project's potential has been further highlighted by an updated Exploration Target in June 2022, with a total size in excess of 1 billion tonnes. This follows an updated Mineral Resource Estimate (MRE) in May 2022, providing an indicated resource over 500% greater than the 2021 scoping study, strengthening the project's feasibility.
IonicRE's plans for the Makuutu Project include completing a Feasibility Study in October 2022, starting construction in mid-2023, and commencing operations in 2024. With its unique deposit and commitment to responsible development, the Makuutu Project has the potential to significantly contribute to the global supply of high-value rare earths, supporting the growth of critical industries.
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