Ionic Rare Earths Ltd’s Makuutu Heavy Rare Earths Project in Uganda is attracting renewed attention following China’s latest move to restrict exports of medium and heavy rare earth elements.
Importantly, the project is among the most advanced ionic adsorption clay (IAC) projects globally, with the product not committed to China and offers an advanced, shovel-ready alternative with high heavy rare earth content.
“The opportunity for Makuutu is shown by the fact that more than 95% of the world’s supply of heavy REOs is from declining reserves of IACs in southern China and Myanmar,” IonicRE MD Tim Harrison said.
The company describes the project as ‘shovel-ready’ and is actively advancing financing discussions with members of the Mineral Security Partnership (MSP) and potential offtake partners to accelerate its development.
Highest Concentrations
Makuutu’s metallurgical refined end concentrate (MREC) features a rare earth basket with approximately 45% medium and heavy rare earths—one of the highest concentrations identified to date.
Added to the MSP in 2023, Makuutu is considered a globally strategic resource with low capital intensity and potential to underpin long-term supply chains for Western economies.
“The clays of Makuutu present a low capital mining, extraction and processing opportunity and are the most readily available global sources of heavy REOs,” Harrison said.
“We have been actively progressing talks with members of the MSP and with the current focus on securing ex-China supply see an enormous opportunity to find the right project partners for development of this key asset.”
Chinese curbs
China produces around 90% of the world’s rare earths, and approximately 98% of the world’s medium and heavy rare earths.
Its latest export curbs further increase Beijing’s dominance over metals key to clean energy, defence and advanced manufacturing.
Currently, there is only one HREE (heavy rare earth element) operation located outside of China, Myanmar and Laos, the Serra Verde mine in Brazil, which exports MREC to south-east Asia for processing within the Chinese supply chain.
All of this currenty works in IXR's favour.
About the Project
The Makuutu deposit comprises nine licences covering around 300 square kilometres, located 120 km east of Kampala.
The project’s defined mineralisation stretches 37km long and is situated near high-quality infrastructure.
It contains a high proportion of magnet and heavy rare earths, including a near-perfect split of magnet rare earths Nd, Pr, Dy and Tb, required for developing the high intensity permanent magnets required for EVs and offshore wind turbines.
