Ionic Rare Earths Limited (ASX: IXR): is a mineral resource company currently focused on the exploration and development of the Makuutu Rare Earths Project (earning up to 60% interest) in Uganda. The Makuutu project is similar to the Southern China Ionic Adsorption Clays (IAC) mines from where most of the Heavy Rare Earths Elements (HREE) are produced on a global scale and already has a large mineral resource of 78.6 Mt at 840ppm TREO.
The key elements of IXR strategy are as follows:
- Extend (and increase the confidence) of mineral resources at Makuutu.
- Progress development studies aiming at demonstrating superior economics warranting development
If successful, the key outcomes will be:
- One of the largest ionic adsorption clay deposits outside China
- A REE project with a simple beneficiation process, low up-front capital, low capital intensity and high margins
- As the other IAC projects are privately held, IXR offers a unique exposure to the superior economics of such deposits