Ionic Rare Earths raises A$8M to advance its Belfast recycling plant, Makuutu project, U.S. expansion, and Brazilian JV as it enters a critical execution phase.
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Uganda
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Overview
About Uganda
Uganda's rare-earth profile rests on Makuutu, about 120 km east of Kampala, where rare earths sit in ion-adsorption clay at the surface along a trend some 37 km long. Its Australian shareholder, Ionic Rare Earths (IonicRE), compares the clays to the ionic-clay deposits of southern China and Myanmar, and USGS notes that heavy rare earths are elevated in this ore type.
The project is planned around open-pit mining and heap desorption. Grades run to hundreds of parts per million, and IonicRE describes the product basket as rich in medium and heavy rare earths, including dysprosium and terbium.
The license holder is Rwenzori Rare Metals, a Ugandan company. It holds a large-scale mining license and has made mixed rare-earth carbonate at an on-site demonstration plant.
Uganda's mining law gives the State a free stake in large mines, and government policy presses for processing inside the country. USGS lists no rare-earth production or reserves for Uganda. The open question is whether a large, low-grade clay deposit can attract the construction finance and offtake it needs.
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