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Ionic Rare Earths Limited engages in the mining, refining, and recycling of magnet and heavy rare earth elements in Australia, Uganda, and United Kingdom. Its flagship project is the Makuutu rare earths project that comprises six licenses covering an area of approximately 300 square kilometers located in Uganda. The company refines and recycles magnet and heavy rare earth elements for energy transition, manufacturing, and defense sectors. The company was incorporated in 1998 and is based in Melbourne, Australia.