EXPLORATION & DEVELOPMENT

Nothing ironic in Ionic moving to demonstration phase post-DFS

IONIC Rare Earths is targeting a demonstration plant build in the second half of 2023 and commercial production late next year at its Makuutu project in Uganda after a definitive feasibility study outlined a development costing an initial US$121 million and having a post-tax net present value of nearly $300 million and an internal rate of return of 33%.