Ionic Rare Earths managing director Tim Harrison introduces the company to Proactive, presenting its flagship Makuutu project in Uganda.
Makuutu spans some 298 square kilometres, east of Kampala, and is surrounded by 'tier-one' infrastructure. Geologically, the project is believed to be similar to clay-type deposits in China which are among the cheapest and most accessible sources of rare earth.
Harrison also explains that the ASX-listed company recently landed a £1.72mln grant from the British government, with the company supporting the UK's Advanced Propulsion Centre (APC) which aims to drive research into low-carbon emission technologies.
Ionic wholly-owned subsidiary Seren Technologies, based in Belfast, plans to used the funds as it develops a demonstration-scale magnet recycling plant for the extraction of REOs for the electric vehicle market.