Ionic Rare Earths Ltd at 121 Mining Investment Cape Town Conference Transcript
Thanks, Adam. So Ionic Rare Earths -- we're developing a supply chain for magnet and heavy rare earths sourced from Makuutu Rare Earth Project in Uganda.
The world is going to require a lot more magnet rare earths in a very short space of time. The complete supply chain is driven by China. All of the downstream processing capability for rare earths exist in China and the value addition of those refined rare earths into magnets. On the back of substantial growth in EV and wind sector, we see an opportunity to accelerate Makuutu towards production and take the product into a supply chain, which we are evaluating in Europe and US.
So that's supply chain source from the mine or the project at Makuutu, which is a large ionic adsorption clay deposit. We just announced a substantial mineral resource estimate update last week, a 70% increase in the overall size of the resource, which is likely to get larger with additional exploration.
We have 300 square kilometers of mineral tenements at Makuutu. It stretches across a 37
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