https://www.cnfeol.com/xitu/n_105853327692.aspx Translation from...

https://www.cnfeol.com/xitu/n_105853327692.aspx
Translation from the Chinese page,

IonicRE signs a memorandum of understanding to develop the Makuutu rare earth project in Uganda
Release Date: April 09, 2021 10:59 Source: Ferroalloy Online

Belonging to the iron alloy series: rare earth, rare earth magnesium silicon, rare earth silicon, rare earth ore, rare earth oxides, rare earth metals, phosphors, polishing powders, neodymium iron boron
Summary of content: IonicRE cooperated with Chinalco to promote the Uganda Makuutu rare earth project...
IonicRE collaborated with Chinalco to promote the development of the Makuutu rare earth project in Uganda.

In this regard, IonicRE and China Rare Metals and Rare Earths (Jiangsu), a subsidiary of Chinalco, have signed a non-binding memorandum of understanding.

Under the memorandum of understanding, the two parties will work together to accelerate the development and production of the Makuutu project.

The memorandum of understanding includes potential offtake agreements and project funding.

Tim Harrison, Managing Director of IonicRE, said: "From the beginning of our discussion, it is obvious that there is a key alignment between IonicRE and Chinalco regarding the development of Makuutu.

"We welcome their expertise in reducing technology development and engineering risks, maximizing Makuutu's strategic value and its importance in the long-term global rare earth supply chain.

"We see Makuutu rapidly growing into an ultra-large long-life producer of key rare earths and heavy rare earths. The cooperation with Chinalco may quickly track Makuutu's development process and will greatly help IonicRE create value."

In the past 12 months, Chinalco has completed its due diligence on the project.