Ionic Rare Earths secures 90% of land access agreements
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2023-11-13
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Ionic Rare Earths secures 90% of land access agreements covering Makuutu Rare Earth Project in Uganda
Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has knocked over another milestone in the development of the Makuutu Rare Earths Project in Uganda, securing more than 90% of land access agreements for the mining licence application (MLA) for stage one of the project.IXR anticipates finalising agreements that will cover nearly 100% of the expansive 44 square kilometres of the MLA area in the coming 10 days.As of today, land access agreements have been secured for more than 92% of the full 44-square-kilometre MLA area, specifically over retention licence (RL) 1693, application TN03834.The path to securing these agreements began with the Ugandan Government's approval of Rwenzori Rare Metals' (RRM) land access process on September 15.This endorsement set the stage for swift progress in the subsequent days.The project spans multiple prospective areas, including the Bugweri District (94% completed), Bugiri District (84% completed) and Mayuge District (90% completed).One pivotal milestone is the formal issuance of the mining licence, contingent upon land access verification by the Directorate of Geological Survey and Mines (DGSM), expected to take place on October 20.DGSM representatives are poised to commence field-based activities within the communities to validate land access, marking a critical step forward in development.Makuutu’s basket contains 71% magnet and heavy rare earths content.It is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across Europe, the US and Asia.Ionic Rare Earths Limited is an ASX-listed company focused on the development of the Makuutu Rare Earths Project in Uganda.With the support of the Ugandan Government and significant progress in securing land access agreements, IonicRE aims to play a pivotal role in the global rare earths market.
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