Australia’s Ionic Rare Earths (ASX: IXR) on Friday, October 20 secured a large-scale mining licence for its the Makuutu heavy rare earths project in Uganda.
The permit was granted by the Ugandan Directorate of Geological Survey and Mines to Rwenzori Rare Metals, a company in which Ionic Rare Earths has a 51% interest but has the right to earn up to 60%, Ionic said.
The rest of Makuutu is held by Rare Earth Elements Africa (REEA) with a 42% stake and local partners, who own the remaining 7% stake.
Source: The Northern Miner
Read more: https://www.northernminer.com/news/ionic-wins-licence-to-mine-rare-earths-in-uganda/1003859783/
