Ionic Rare Earths Limited (ASX: IXR) has welcomed advice that the Ugandan Government has approved its updated mining and minerals (licencing) regulations 2023. This is an important precursor to the grant of the Mining Licence Application (MLA) at the company’s 60% owned Makuutu Heavy Rare Earths Project, Uganda.
Tim Harrison, managing director, said, “This is an important milestone for the Ugandan mining industry and has been a regulatory requirement for the grant of the company’s MLA at Makuutu. With this milestone the company can now finalize the MLA fee payment which is the final item required in Uganda and clears the path to expedite the award of the mining licence at Makuutu.”
Ionic Rare Earths recently announced progress on the demonstration plant at Makuutu and the Phase 5 drill programme, which continues on target with 79 holes completed, currently focusing on upgrading the confidence of the existing mineral resource estimate on RL00007.
“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,” Mr. Harrison said. “Along with our Belfast recycling facility, the Makuutu project is key to us harnessing our technology to accelerate our mining, refining, and recycling of magnets and heavy rare earths which are critical for the energy transition, advanced manufacturing, and defence.”
Additionally, Mr. Harrison said the company, through Rwenzori Rare Metals Limited, had been in regular dialogue with representatives of the Ugandan Ministry of Energy and Mineral Development (MEND), and other branches of the Ugandan Government, and are pleased with the progress on approvals.
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