Can Makuutu Rare Earths Project Cement Uganda's Position in Global Resource Supply?
Ionic Rare Earths Limited's Makuutu Project: A Milestone Achieved in Uganda's Rare Earth Exploration
Who?
Ionic Rare Earths Limited (ASX: IXR), operating through local entity Rwenzori Rare Metals Limited (RRM), spearheads the development of the Makuutu Rare Earths Project in Uganda.
What?
Uganda's Directorate of Geological Survey and Mines (DGSM) completes on-site verification for land access agreements, marking a crucial phase for the Stage One Mining Licence Application (MLA) for the Makuutu Project.
**Where and When?**
The verification process occurred recently, on November 29, 2023, at the Makuutu Rare Earths Project site in Uganda.
Why?
The completion of land access agreements signifies strong local support and positive social acceptance, crucial for the successful operation of the Makuutu Project. The project is poised to become Uganda's flagship mine, receiving full support from the Ugandan government.
How?
The verification process involved a three-day engagement by the DGSM delegation, evaluating the steps taken by RRM in securing land access agreements as part of the Mining Licence application process.
Land Access Milestone: Paving the Way Forward
Ionic Rare Earths Limited proudly announces the successful completion of the on-site verification process conducted by the Directorate of Geological Survey and Mines (DGSM) in Uganda.
Story Continues.. after this ad because we need some dollarydoos
This marks a significant stride towards the Stage One development of the Makuutu Rare Earths Project.
Securing Local Support
Ugandan Government representatives have affirmed the robust local support witnessed during the verification processes. Land access agreements, now covering over 95% of the full 44 square kilometers of the Mining Licence Application, underscore the positive social license to operate the Makuutu Project.
The support and endorsement received from local stakeholders are instrumental in advancing the project towards its first phase of development. As the final administrative stages of the Mining Licence approval process commence, optimism abounds for the Makuutu Project's progression.
Makuutu's Global Significance
The Makuutu Rare Earths Project boasts a significant composition, holding 71% magnet and heavy rare earths content. Recognized as one of the most advanced heavy rare earth projects globally, Makuutu emerges as a critical source for emerging supply chains across Europe, the US, and Asia.
Government's Backing and Future Prospects
The Government's unwavering support for Makuutu as Uganda's flagship mine solidifies its position in the rare earths industry. The project's potential in contributing to global rare earth supply chains augurs well for the country's economic prospects.
The recent visit and verification process by the DGSM delegation further affirm the project's compliance with regulations and the successful execution of land access agreements, reinforcing its credibility in the mining sphere.
A Pivotal Step Toward Makuutu's Future
The completion of on-site verification and the securing of land access agreements represent critical milestones for Ionic Rare Earths Limited's Makuutu Rare Earths Project. As Uganda's beacon in rare earth exploration, the project's progress marks an exciting chapter in the global supply chain of these valuable resources.
Promote your business on our growing investor platform: Advertise With Us
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
📈 Top 10 Stock Lists
Join the conversation
📈 Top Daily Gainers
📈 YTD Gainers
📉 Top Daily Losers
💰 High Dividend Yields
📅 Best Performers – November
✅ Seasonal Standouts – November
🔮 Seasonal Standouts – December