The latest announcement is out from Ionic Rare Earths Limited ( (AU:IXR) ).
Ionic Rare Earths Limited is advancing its Makuutu Heavy Rare Earth Project in Uganda, as China’s new export restrictions on rare earths highlight the need for alternative supply sources. The Makuutu project, a significant ionic adsorption clay deposit, is strategically important for its high content of medium and heavy rare earths, essential for producing permanent magnets used in EVs and wind turbines. With a mining license already secured and initial production underway, IonicRE is engaging with potential partners to accelerate development, positioning itself as a key player in the global rare earth supply chain.
More about Ionic Rare Earths Limited
Ionic Rare Earths Limited is a company operating in the rare earths industry, focusing on the development of rare earth projects. Its primary product is the Makuutu Heavy Rare Earth Project, which is among the largest ionic adsorption clay deposits globally. The company is working on establishing a Western supply chain for rare earth elements, crucial for technologies like electric vehicles and wind turbines.
Technical Sentiment Signal: Buy
Current Market Cap: A$36.67M
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