ESIA Approval Received For Makuutu Rare Earth Project

The Board of Ionic Rare Earths Limited (“IonicRE” or “The Company”) (ASX: IXR) is very pleased to advise that Uganda’s National Environmental Management Authority (NEMA) has approved the Environmental and Social Impact Assessment (ESIA) for the Makuutu Rare Earth Project (“Makuutu” or ‘the Project”).

• Uganda’s National Environmental Management Authority (NEMA) has approved the Makuutu Rare Earth Project’s Environmental and Social Impact Assessment (ESIA)
  
• This vote of confidence positions the Makuutu Rare Earth Project as Uganda’s next mining development, set to unlock unprecedented social and economic benefit through mineral development
• The approval follows a 9-month assessment by NEMA culminating in two large public hearings with over 3,800 registered attendees demonstrating strong governmental and local stakeholder support
• Social benefits continue to accelerate across local communities in the Bugweri, Mayuge and Bugiri districts and includes employment, support programs and improved social services in one of the poorest parts of Uganda.
• The approval of the ESIA is a fundamental requirement for the Mining Lease approval process, expected Q1 2023, and paves the way for development of the mine which will unlock significant stakeholder value

In recognition of the flagship nature of the Project and its significance to the country’s development outlook as enshrined in Uganda’s National Development Plan NDP-III, the certificate was awarded at a ceremony held yesterday in Kampala at NEMA’s headquarters.

IonicRE Managing Director Mr Tim Harrison stated;

“I wish to start by thanking all Ugandan Government Ministers and officials for their support of the Makuutu Project and NEMA for their engagement, review, and approval of the ESIA. This is a significant milestone and vote of confidence by the Government and community groups – signifying the pivotal role Makuutu will play in the social, economic development and growth of Uganda.

“I would also like to convey my gratitude to the local stakeholder communities for embracing the Makuutu Project. The Project aspires to be a significant contributor over a long period of time in Uganda. To employ and train directly from within the local communities, source from local businesses and create further improved services, leading to an overall improved quality of life across the districts that host the Project.”

“My congratulations and thanks extend to the expanding Rwenzori team on the ground at Makuutu, who have worked tirelessly to engage and listen to the needs of local community groups, Kingdom representatives, members of the Bugweri, Mayuge and Bugiri districts and Ugandan Government officials.”

“This Project will set its sights on becoming Uganda’s flagship sustainable mine. Our vision is that Makuutu will provide global customers with an alternative supply of magnet and heavy rare earth elements needed for a Net-Zero Carbon world for 50 years and beyond.”

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