IonicRE's Makuutu Project Set for 2024: Feasibility Study & Construction in 2023
Ionic Rare Earths Limited (IonicRE) is making significant strides in its Makuutu Rare Earths Project in Uganda. The company's goals for 2022 and beyond include completing a feasibility study and starting construction in mid-2023. The project, expected to be operational by 2024, has an indicated resource over 500% greater than the 2021 scoping study, providing a strong foundation for the feasibility study.
The Makuutu deposit, unique for its ionic adsorption clay (IAC) type, is rare outside of southern China and Myanmar. It has the potential to produce key magnet and heavy rare earths, which are highly sought after in industries such as renewable energy, electric vehicles, and defence. IonicRE aims to produce enough magnet rare earths to develop up to two million EVs annually once in production.
To achieve this, the company will further define the deposit through a phase 5 drill programme and use Ligand Assisted Displacement (LAD) chromatography technology for separation and purification. This technology provides high efficiency, environmental safety, modular scalability, and local processing advantages. The updated exploration target at Makuutu highlights the potential for a mineralised system stretching over 37km long and a total size in excess of 1 billion tonnes.
With its significant rare earths potential, the Makuutu Rare Earth Project is poised to play a crucial role in the global market. IonicRE's plans to complete a feasibility study and start construction in mid-2023 demonstrate the company's commitment to bringing this project to fruition. Once operational in 2024, the project is expected to contribute significantly to the production of magnet rare earths, supporting the growing demand in various industries.
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