Produced 1st quarter , dispatched August ? Looking forward for a targeted Final Investment Decision slated for later in 2024. Looking like the FS for Belfast is following the same timelines.
ASX Announcement 30 April 2024
First Mixed Rare Earth Carbonate Produced at Makuutu A significant achievement in the form of the first production of Mixed Rare Earth Carbonate (MREC) was attained during the March quarter at the Makuutu Demonstration Plant situated on site in Uganda. Maiden MREC, derived from Makuutu, boasts a high concentration of both magnet and heavy rare earth elements (REEs), serving as a pivotal alternative and strategically positioned future source for addressing the supply constraints associated with Dysprosium (Dy) and Terbium (Tb), of which approximately 98% of the global supply originates from China. The production of maiden MREC marks a notable advancement in the supply chain, fostering engagement with off-takers and providing sample products for assessment by customers and strategic partners. Furthermore, this development positions Makuutu favourably for a targeted Final Investment Decision slated for later in 2024, with full commercial production planned for 2026.
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(20min delay)