News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

IonicRE signs MoU for potential investment, offtake and develop

The date of: 2021-04-08
viewed: 0

source:Mining Review Africa

Ionic Rare Earths (IonicRE) has signed a non-binding MoU with Aluminium Corporation of China subsidiary, China Rare Metals and Rare Earth (Jiangsu) (CHINALCO) in relation to the development of the Company’s Makuutu Rare Earths Project (Makuutu) in Uganda.

IonicRE MD Tim Harrison comments:

“We are very pleased to have signed this MoU which, further endorses the quality of the Project and its strategic importance, and will now enable the Makuutu Rare Earths Project to rapidly advance activities in the near term.

“We welcome the involvement of CHINALCO and their ionic clay and rare earths separation arm China Rare Earths Jiangsu.  Their knowledge on ionic adsorption clays is second to none, and their involvement would also greatly enhance and accelerate the planned development of Makuutu.”

“From the outset of our discussions, it was clear that there existed a key alignment between IonicRE and CHINALCO on the development of Makuutu. We greatly welcome their expertise in de-risking the technical development and engineering, maximising the strategic value of Makuutu and its importance in the longer-term global rare earths supply chain.”

“We see Makuutu rapidly growing into a very large, long life producer of critical and heavy rare earths. Partnering with CHINALCO potentially fast tracks the development process for Makuutu and will greatly assist in value creation for IonicRE.”

Highlights of the MoU include: 

IonicRE and CHINALCO have agreed to use their reasonable endeavours to strategically cooperate to accelerate Makuutu mine development and production for mutual benefit; as well as

Potential for future investment in IonicRE, and/or the Makuutu Rare Earths Project directly, and/or off-take agreements, as agreed by the parties, for rare earth product produced by IonicRE.

CHINALCO is the world’s largest market capitalised rare earth miner and separator, with numerous dedicated subsidiaries operating in mining and rare earth separation, including the Heavy Rare Earth Element (HREE) rich ionic adsorption clay (IAC) mines in Guangdong and Guangxi Provinces and a number of REE separation plants in Jiangsu Province.

Most of the global Rare Earth Oxides (REO) produced globally are initially processed and separated within China. Therefore, it is of strategic importance to IonicRE, to have successfully negotiated this MOU and welcomes CHINALCO as a potential cornerstone project partner.

CHINALCO have completed an extensive due diligence review over the past twelve (12) months on the Makuutu Rare Earths Project, in conjunction with numerous meetings between the IonicRE executive team and CHINALCO, facilitated by IonicRE’s strategic advisor, Airguide.

Hot News / Related to recommend
  • 2023 - 03 - 30
    Click on the number of times: 0
    source:natureAbstractThe world’s largest current Cu resource is volcanic arc-hosted, porphyry copper deposits. Whether unusual parental magmas or fortuitous combinations of processes accompanying empl...
  • 2023 - 03 - 28
    Click on the number of times: 1
    source:designnewsRare earth elements (REEs) are a group of 17 metallic elements that are used in high-tech electronics, electric vehicle motors, defense systems, and other consumer goods, according to...
  • 2023 - 03 - 27
    Click on the number of times: 1
    source:techxploreRare earth elements (REE), a group of 17 metallic elements, are in nearly every piece of technology, including cell phones, televisions, computers and almost every part of a vehicle. ...
  • 2023 - 03 - 24
    Click on the number of times: 1
    source:astrobiologyA new biosensor engineered by Penn State researchers offers scientists the first dynamic glimpses of manganese, an elusive metal ion that is essential for life.The researchers engin...
  • Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.2020034223
    the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center