The Uganda Directorate of Geological Survey and Mines (DGSM) has approved the granting of a large-scale mining licence for ASX-listed Ionic Rare Earths’ (IonicRE’s) Makuutu project.
The Stage 1 mining licence covers about 44 km2 of the nearly 300 km2 of tenements at Makuutu.
IonicRE MD Tim Harrison said this was an important milestone for the project.
“We are pleased with the announcement today that the DGSM has officially approved for granting the large-scale mining licence . . . which now completes all regulatory approvals on the award of the mining licence for the Makuutu project.
“This announcement reinforces the Makuutu project as one of the world’s largest and most advanced development-ready heavy rare earth element assets, and we look forward to progressing the next steps and commissioning our demonstration plant at Makuutu,” he added in an October 20 statement.
Makuutu is an advanced-stage, clay-hosted project with geology similar to major rare earths projects in southern China, which are responsible for the majority of global supply of low-cost heavy and critical rare earths, specifically the high-value magnet metals dysprosium and terbium.