Ionic receives support towards mining licence grant in Uganda
ASX-listed Ionic Rare Earths Limited says its Ugandan subsidiary now has land access agreements in place for 95% of the mining licence area for the Makuutu rare earths project.
Owing to support of the Ugandan government, the Makuutu mine is poised to become the country’s flagship rare earths mining operation.
Last week, Ionic’s operating entity, Rwenzori Rare Metals (RRM), hosted a delegation from the Directorate of Geological Survey and Mines to conduct physical verification and stakeholder engagement activities.
The delegation undertook a three-day process on behalf of the Permanent Secretary of the Ministry of Energy and Mineral Development to verify the process undertaken and results achieved by RRM in securing land access agreements as part of the mining licence application process.
Ionic says local stakeholders have confirmed their satisfaction with project engagements, including government and community members, who all emphasised that RRM should be granted a mining licence for Makuutu.
The company is now engaging with the Ugandan authorities on the formal award of a Stage 1 mining licence over the area.
Makuutu’s basket contains 71% magnet and heavy rare earths content, and is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across Europe, the US and Asia.
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