Ionic Rare Earths says path now cleared for Makuutu mining licence

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Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) MD Tim Harrison speaks with Proactive after welcoming advice that the Ugandan Government has approved and gazetted its updated Mining and Minerals (Licensing) Regulations 2023, which clears the path for the company to obtain a mining licence for its 60%-owned Makuutu Heavy Rare Earths Project. With the final piece of the puzzle in place, the company will now be able to lodge the US$5,400 fee payment for the projects Mining Licence Application (MLA) to accelerate the review and award of the licence. This week Ionic has also revealed the discovery of rare earth elements (REE) of up to 1,337 parts per million (ppm) total rare earth oxide (TREO) during a phase 5 rotary air blast campaign, some of the highest-grade REEs Makuutu has ever seen.

This is an important milestone for the Ugandan mining industry and has been a regulatory requirement for the grant of the companys MLA at Makuutu, Harrison said.

With this milestone, the company can now finalise the MLA fee payment, which is the final item required in Uganda and clears the path to expedite the award of the mining licence at Makuutu.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

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