Join our daily newsletter At The Bell to receive exclusive market insights
- Ionic Rare Earths (IXR) appoints Melbourne engineering consultant Mincore to deliver a feasibility study for Makuutu Rare Earths Project
- The parties will prepare a report to support a mining licence application for the project
- Ionic says it has already commenced a feasibility study, with Mincore to finalise a process plant and associated infrastructure
- The ASX-lister owns 51 per cent of the Ugandan project at this stage and can earn up to 60 per cent
- Ionic Rare Earths shares are trading in the grey at 2.4 cents
Ionic Rare Earths (IXR) has appointed Melbourne engineering consultant Mincore to deliver a feasibility study for its Makuutu Rare Earths Project.
The parties will work to compile a feasibility study report for a mining licence application for the Ugandan project, which is tipped to be submitted by October 2022.
Ionic said it has commenced a feasibility study and will be working with Mincore to finalise a process plant and associated non-process infrastructure for Makuutu.
Ionic is in the process of earning into Rwenzori Rare Metals, which holds 100 per cent of the Makuutu Rare Earths project, with Ionic owning 51 per cent of the project at this stage.
According to the company, Mincore’s team has recently completed a heap leach project in elevated rainfall conditions and is also presently working on Front End Engineering Design project activities in Africa.
Ionic Rare Earths Managing Director Tim Harrison said he was delighted to engage Mincore.
“The team at Mincore presented a very complementary skillset to the IonicRE owners’ team,” he said.
“This next six months will see a continued increase in activity, highlighted by the current drill program, which will greatly enhance the project’s resource definition.”
Ionic Rare Earths shares are trading in the grey at 2.4 cents at 12:02 pm AEST.
