Rare Earth Project
Project Details
Project Name: Rare Earth Project Location: Bugiri, Iganga and Mayuge Districts
Implementing Agency: Uganda National Mining Company (UNMC)
Product: Mixed rare earth carbonate (MREC), refined product, and enriched REE product.
Mineral Resource Estimate
Above 200ppm TREO cut-o (ASX: 15 May 2024). 532 million tonnes of ionic adsorption clay containing 340,000 tonnes of rare earth oxides.
Project Cost Estimate:
USD 121 million
Project Description
The Makuutu project under Rwenzori Rare Metals Limited as a developer with Uganda National Mining Company with 15% ownership in Mining Licence, is approximately 40 kilometres East of Jinja, 120km East of Kampala in Eastern Uganda. The 2 licenses cover about 272km and are located within what has been interpreted as a mini sedimentary basin that covers about 40km . Makuutu is a clay deposit with confirmed ionic/ adsorption REE clays. The grades of our REE are comparable to grades in clay deposits worldwide. The project area has excellent infrastructure with tarred roads, railway line, power lines, water, cell phone coverage, as well as being accessible throughout the year irrespective of weather conditions.
Proposed financing mode:
JV
Nature of Project:
Greenfield
