Resource Investing News
Precious Metals Investing
Base Metals Investing
Battery Metals Investing
Technology Investing News
Cannabis Investing News
Company News
Featured
Interviews
INNvestor Reports
Australian Companies
About INN
INN Contributors
uranium investing
See our exclusive index of companies on the move:
Explore Stocks- Top Stocks
- Top Australian Gold Stocks
- Top ASX Copper Stocks
- Top ASX Nickel Stocks
- Top ASX Rare Earth Stocks
- Top Battery Metals Stocks on the ASX
- Top Australian Lithium Stocks
- Top Graphite Miners on the ASX
- 10 ASX Cannabis Stocks
- Top ASX Tech Stocks
- Top AI Stocks on the ASX
- On Site
- About Australian Cannabis Investing
- About Australian Resource Investing
- About Australian Tech Investing
- About Australia Investing
- Of Interest
- ASEAN-Australia-New Zealand Trade Agreement
- Association of Southeast Asian Nations (ASEAN)
- Australian FAQ on ASEAN
- Australia Government on Foreign Investments
Copyright 2021 All Rights Reserved.
September 21, 2021
Ionic Rare Earths Limited ("IonicRE" or "the Company") (ASX: IXR) is pleased to provide an update to marketing activities underway promoting the substantial upside potential of Scandium co-product from the Makuutu Rare Earths Project ("Makuutu") in Uganda.
Since the Company announced the initiation of scandium marketing activities on 28 January 2021, the Company has further increased the long life potential of Makuutu with a substantial near 4 fold increase in the contained Scandium Oxide (Sc2O3) resource from prior 2,300 tonnes to 9,450 tonnes as per the Mineral Resource Estimate announced 3 March 2021 (refer Table 1).
The Scoping Study announced 29 April 2021 provided an overview of the potential for Sc2O3 production from Makuutu, with initial production produced from 1 module of approximately 20-25 tonnes Sc2O3 in Year 1 ramping up to 90-100 tonnes by year 10. Negligible additional cost is incurred in the recovery and production of Sc2O3, which will report to the mixed rare earth carbonate (MREC) product at Makuutu. The low capex development at Makuutu is a clear differentiator to other potential scandium sources, and provides IonicRE with a tremendous advantage to help build and establish a key foothold in what the Company expects will be metal of high demand once initial supply can be demonstrated.
- Makuutu is currently the 3rd largest reported scandium resource globally, currently containing over 9,450 tonnes within current MRE
- Scandium resource potential expected to grow with substantial exploration upside identified at Makuutu, specifically in eastern tenement EL00147, and northwestern tenements application TN03573 (pending)
- IonicRE positioning itself to become a key player in the Sc2O3 market, with initial plans to produce 20-25 tpa, and progressively ramp up production over 10 years to approx. 90-100 tpa
- Current pricing for Scandium Oxide (Sc2O3) trading at between US$1,000/kg to US$4,000/kg in opaque market
- Accelerated interest in Scandium assets globally, with Rio Tinto (ASX:RIO) and RUSAL (SEHK:486) recently announcing entry into the Sc2O3 market
- Scandium potential at Makuutu to focus on supplying large addressable markets within the aerospace, automotive and defense sectors, in addition to fuel cell and 3D printed specialty component applications
IXR:AU
Top News
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.