Ionic Rare Earths Limited (ASX: IXR) has made substantial strides in securing land access agreements for the Mining Licence Application (MLA) of the Makuutu Rare Earths Project's Stage One development. Facilitated through Rwenzori Rare Metals Limited ("RRM"), a local Ugandan entity, the land access process received approval from the Ugandan government on September 15, 2023.
Currently, agreements have been finalized for 92% of the MLA's 44 km², covering Bugweri District (94% completed), Bugiri District (84% completed), and Mayuge District (90% completed). Rapid progress across all districts is expected to result in nearly 100% coverage within the next ten days. The formal issuance of the Mining Licence hinges on land access verification by the Directorate of Geological Survey and Mines (DGSM), with on-site verification activities commencing this week. Makuutu's composition, boasting 71% magnet and heavy rare earths content, positions it as a leading source for emerging supply chains in Europe, the US, and Asia.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
