IonicRE's Makuutu Project Set to Challenge China's Rare Earths Dominance
Ionic Rare Earths Limited (IonicRE) is set to produce a high-value mixed rare earth carbonate (MREC) product at its Makuutu project in Uganda. The project boasts a Mineral Resource Estimate over 500% greater than its 2021 scoping study, positioning it well for a robust Feasibility Study. Notably, the product will contain approximately 33% magnet rare earths, representing 85% of the rare earth basket value.
IonicRE aims to capitalise on the high demand for heavy rare earths like dysprosium (Dy) and terbium (Tb), currently monopolised by China. The company plans to separate and purify these key elements using innovative solvent extraction technology and ionic liquids, bolstered by its acquisition of Seren Technologies Ltd. This will enable IonicRE to supply critical sectors such as automotive, offshore wind, and defence, while also developing magnet recycling capabilities.
The Makuutu deposit, a rare ionic adsorption clay (IAC) deposit outside of southern China and Myanmar, offers a unique opportunity. It can produce a high-value, high-margin product free of radionuclides. An updated Exploration Target suggests the mineralised system could extend to over 37km in length and over 1 billion tonnes in size.
IonicRE's Makuutu project, with its significant rare earths potential and innovative processing methods, is poised to challenge China's dominance in the heavy rare earths market. The project's responsible development, focusing on environmental and social impact assessments, local employment, and business opportunities, further strengthens its position. As rare earths remain crucial for various industries, IonicRE's efforts could significantly impact the global supply chain.
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