Rwenzori Rare Metals, the operator of the Makuutu Rare Earths Project and a subsidiary of ASX-listed Ionic Rare Earths, confirmed completion of its demonstration processing plant in late 2024. The unit is designed to validate flowsheet performance on Makuutu clay ahead of a staged commercial ramp.
For Bugweri, the project's next test is procurement: how much of the construction, logistics and services budget lands with Ugandan-registered contractors, and how quickly the company converts stated local employment targets into signed contracts.
UMT continues to view Makuutu as one of the strategically most important licences in the country.