Mining

Energy, Oil & Gas

Ionic Rare Earths gets Makuutu mining licence

Ionic Rare Earths Limited said that it has been granted a 21-year mining licence for the central tenement of its Makuutu heavy rare earths project
Ruth Nankabirwa, the minister of energy and mineral development, after signing the mining licence on 17 January 2024 in Kampala. With her are Patience Singo (left), the country manager of Rwenzori Rare Metals, the owner of the Makuutu project and a subsidiary of Ionic Rare Earths Ltd, and Warren Tregurtha (second left), the chief executive of Rwenzori Rare Metals, and Vincent Kedi, commissioner licencing and administration in the ministry of energy. Ionic Rare Earths Limited said Wednesday that it has been granted a 21-year mining licence by the Ugandan government for the central tenement of its Makuutu heavy rare earths project, paving the way for a final investment decision later this year and production in 2026. The tenement covers 43.78 square kilometres of the project's 298 square kilometres.
CompaniesEnergy, Oil & GasMergers & Acquisitions

Ionic Rare Earths increases stake in Makuutu project to 94%, says deal will ease financing negotiations

Mine expected to start production in first quarter next year, albeit small scale and for potential customers and off-takers
Ionic Rare Earths Limited workers at the Makuutu Rare Earths Project in Eastern Uganda. Ionic Rare Earths Limited, the Australian mining company, has acquired an additional 34 per cent interest in Rwenzori Rare Metals Limited, the owner of the Makuutu Rare Earths Project, bringing its majority interest in the project to 94 per cent, as it prepares for small-scale production in a few months' time.
CommoditiesOpinion

How we can make the most of Africa’s strategic green minerals

How can Africa make sustainable and strategic use of its green mineral reserves while increasing its economic autonomy?
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CompaniesPolitics & Policy

Chinese firm wants $33m for termination of Kilembe mines deal

Tibet Hima Mining Company, the embattled Chinese company whose 25-year to operate the cobalt and copper Kilembe mines in Kasese district was cancelled last October, is seeking at least $33m in damages
Politics & Policy

Government moves to cancel Shs600bn Kilembe Mines deal

A committee established to advise the government on how to proceed on the Kilembe mines previously leased to Tibet Hima Mining Company has recommended terminating the concession with the Chinese consortium