Harnessing our technology to accelerate mining, refining, and recycling of magnet and heavy rare earths critical for the energy transition, advanced manufacturing, and defence
Stock Code:
ASX: IXR
Company Exposure:
Rare Earths
Project Location:
Uganda
Ionic Rare Earths (IonicRE) is harnessing its technology to accelerate mining, refining, and recycling of magnet and heavy rare earths critical for the energy transition, advanced manufacturing, and defence. IonicRE is focused on developing its flagship Makuutu Rare Earths project in Uganda into a significant, long-life, low capital cost supplier of high-value magnet and heavy rare earths. Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralization, significant exploration upside, proven ionic metallurgical characteristics, and access to Tier 1 infrastructure.
Ionic Technologies, based in Belfast, UK, is the company’s 100% owned magnet recycling subsidiary, and is producing high purity magnet rare earth oxides (REOs) from its demonstration plant processing recycled magnets via a patented hydrometallurgical process with key partnerships announced with Ford and Less Common Metals.
The Makuutu Rare Earths Project
Low Capital Project, Stage 1 DFS Complete
- Makuutu is unique and receiving global interest due to its high quality balanced (magnet + HREO) basket which is free of radionuclides
- Makuutu is the most advanced ionic adsorption clay (IAC) project globally not controlled or offtake secured by China
- Mining licence LML00334 issued in January 2024, first of six tenements expected over the next decade
- JORC MRE of 532Mt at 640ppm total rare earths oxides (TREO), including indicated resource at Makuutu Central (LML00334) of 259Mt at 740ppm TREO
- Maiden ore reserve of 172.9Mt at 848ppm TREO
- Feasibility study completed March 2023
- Highly prospective licences EL00147 and EL00257 drilled in H2 2023, with assays confirming IAC hosted rare earth element (REE) mineralization present and substantial scope for both MRE and exploration target growth at Makuutu (update expected Q1 2024)
- IonicRE expected to move to 94% ownership (currently 60%) in H1 2024 and in discussions with other partners to move towards 100% ownership
- Environmental and social impact assessment approval received from Ugandan regulators in October 2022; Digbee ESG™ certified
- Discussions continue with groups looking to secure long term magnet and heavy REO supply, along with potential feed to standalone IonicRE rare earth refinery
- Makuutu demonstration plant is progressing to schedule with expected Phase 1 producing mixed rare earth carbonate (MREC) in Q1 2024
- Existing local Tier 1 infrastructure supports low capex development
