- Ionic Rare Earths (IXR) has begun marketing scandium by-products from the company’s Makuutu Rare Earths Project
- The Makuutu Project could produce 10 to 20 tonnes of scandium oxide annually, potentially providing an additional revenue source
- At roughly US$1.5 million (approximately A$1.96 million) per tonne, high-purity scandium oxide from Makuutu could partially offset the project’s operating costs
- As part of its marketing strategy, Ionic Rare Earths has appointed consultant John Carr as the company’s Scandium Marketing Advisor
- Ionic Rare Earths is down 7.5 per cent, and is trading at 3.7 cents per share
Ionic Rare Earths (IXR) has begun marketing scandium by-products from the company’s Makuutu Rare Earths Project.
The company’s project in Uganda has the potential to become a substantial and long-term resource of scandium. In addition, the Makuutu Project could produce 10 to 20 tonnes of its by-product, scandium oxide, a year.
High-purity scandium oxide, particularly 99.9 per cent pure scandium oxide, currently trades for US$1.5 million (approximately A$1.96 million) per tonne. The sale of its scandium by-products could provide Ionic with an additional source of revenue that could offset a considerable portion of the Makuutu Project’s operating costs.
Ionic Rare Earths has already begun discussions with parties in the global transportation and space sectors, which are engaged in adopting aluminium-scandium alloys into their industries.
As part of its marketing strategy, Ionic has also appointed John Carr as the company’s Scandium Marketing Advisor. The company intends to use his consulting services and considerable expertise in the scandium market.
Ionic Rare Earth’s Managing Director, Tim Harrison, said it is prudent to start engagement now, given the interest in Makuutu being expedited to production, as well as growing demand for alternative supplies of critical and heavy rare earths.
“We are very pleased to have engaged John to assist IonicRE in planning and developing a scandium marketing strategy, greatly assisting the company to realise the accretive value of scandium to Makuutu,” he said.
“Having worked closely with John in the past, I know John’s experience and network across key markets in Asia, Europe, and North America will be crucial, especially the aluminium-scandium alloy business,” he added.
Ionic Rare Earths is down 7.5 per cent and trading at 3.7 cents per share, at 12:10 pm AEDT.