Makuutu comprises six licences covering approximately 300 square kilometres, located 120 kilometres east of
Makuutu is being developed by
The increase in ownership represents a watershed moment for the Company with ownership at a 94% interest, opening a multitude of potential funding and offtake scenarios in financing the development of the Project. The Company continues discussions with partners on a transaction to acquire the remaining 6%.
Makuutu Demonstration Plant
During the half, the Company progressed the establishment of a Demonstration Plant located on site at Makuutu in
The Makuutu Demonstration Plant technical facility will aim to further optimise metallurgical test work and provide further technical validation basis for grade control, mine design, material handling, metallurgical reconciliation, and construction activity whilst also supporting Project financing and strategic partner activity.
First production of mixed rare earth carbonate product is expected in quarter 1 2024.
*To view the Half Year Report, please visit:
https://abnnewswire.net/lnk/36XSEJJD
About
Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.
The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in
Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.
Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.
IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.
Contact:
E: investors@ionicre.com
T: +61 (3) 9776 3434
For Investor Relations
E: peter@nwrcommunications.com.au
T: +61 (0) 412 036 231
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