Berkshire is hoarding so. much. cash.
Where is Ionic Rare Earths Demonstration Plant and Why is it Important?
Ionic Rare Earths Advances on Makuutu Rare Earths Project in Uganda, Demonstrating Strategic Resource Potential
Ownership Structure and Project Location
In a recent development within the rare earths mining sector, Ionic Rare Earths Limited (ASX: IXR) is making significant strides in the construction of the technical facility and Demonstration Plant at the Makuutu Rare Earths Project ("Makuutu") located in Uganda. This project, held through the local Ugandan operating entity Rwenzori Rare Metals Limited ("RRM"), has been making headlines due to its potential to become a vital source of heavy Rare Earth Oxides (HREO) for emerging supply chains across Europe, the US, and Asia.
Makuutu, spanning approximately 298 km², is situated about 40 km east of Jinja, the regional center, and 120 km east of the capital city, Kampala, in eastern Uganda. The project boasts robust infrastructure, including tarred roads, nearby rail connections, power, water access, and cell-phone coverage. Its strategic location ensures year-round accessibility regardless of weather conditions.
Geological Significance and Similarities to Ionic Clay Deposits
One of the standout features of Makuutu is its geological similarity to the ionic clay-type deposits found in southern China. These deposits are renowned for being a cost-effective and easily accessible source of HREOs, typically extracted through rudimentary mining and processing methods.
Story Continues.. after this ad because we need some dollarydoos
This geological alignment positions Makuutu as a promising project in the global rare earths landscape.
Progress on the Makuutu Demonstration Plant
Ionic Rare Earths Limited has reported substantial progress on the construction of the Makuutu Demonstration Plant technical facility, a pivotal component of the project's development. This facility aims to optimize metallurgical test work, validate grade control methods, facilitate mine design, streamline material handling processes, ensure metallurgical reconciliation, and support construction activities. Additionally, it plays a crucial role in project financing and engagement with strategic partners.
Within the technical facility, desorption columns have undergone water commissioning to pre-test the ore before commencing formal test work. Irrigation tests have also been executed to ensure the effectiveness of the desorption processes.
Auger Drilling and Large-Scale Mining License Application
An auger drill has been mobilized to the first test mine pit site, where bulk sample collection drilling has already commenced. This step is essential in providing the necessary test material for the Makuutu test facility.
Furthermore, Ionic Rare Earths, through RRM, has met all the prerequisites for obtaining a large-scale Mining License. The Directorate for Geological Survey and Mines (DGSM) has verified the compliance of the project with licensing requirements. The final administrative steps involve sending these verification results to the Ugandan Ministry of Energy and Mineral Development (MEMD). Ionic Rare Earths is actively engaged with MEMD, eagerly awaiting the award of the large-scale Mining License.
Government Support and Uganda's Flagship Mine
The Makuutu Heavy Rare Earths Project enjoys strong support from the Ugandan government and is poised to become the country's flagship mine, reflecting the project's strategic significance in the rare earths sector.
Ionic Rare Earths' Managing Director, Mr. Tim Harrison, expressed optimism about the recent developments, stating, "These works are essential to validating our mine development plan and generating mixed rare earth carbonate (MREC) sample for off-take to our potential partners in Q1 2024. This work program will also demonstrate our position as a strategic resource for near-term development and a secure, long-term supply of magnet and heavy rare earth oxide (REO). "
In a world increasingly reliant on rare earth elements for the energy transition, advanced manufacturing, and defense applications, the progress at Makuutu underscores its significance in supplying critical materials to emerging supply chains globally. With this progress, Ionic Rare Earths is well-positioned to provide a secure, sustainable, and traceable supply of magnet and heavy REOs, furthering the global push towards a green and technology-driven future.
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...
#ASX:ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
📈 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