Rainbow Rare Earths now "a fully de-risked company"
June 07, 2023 at 05:11 am EDT
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Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) CEO George Bennett speaks to Thomas Warner from Proactive after announcing the commencement of operations at the Phalaborwa pilot plant.
Bennett says that the news is significant because it makes Rainbow Rare Earths a "fully de-risked company." He goes on to talk about the scale of the opportunity on offer in the rare earths markets.
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Proactive UK Ltd
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uk@proactiveinvestors.com
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Rainbow Rare Earths Limited is a Guernsey-based mining company. The Company is engaged in the development of rare earth mineral projects in South Africa and Burundi. Its projects include Phalaborwa Project and Gakara Project. The Phalaborwa Project is a gypsum stack re-treatment project for the recovery of rare earths located in South Africa. The Phalaborwa Rare Earths Project has an inferred mineral resource estimate of 30.4 metric tons (Mt) at 0.44% TREO contained within phosphogypsum in two unconsolidated stacks derived from historic phosphate hard rock mining. The Gakara Rare Earth Project is located in Western Burundi, approximately 20 kilometers (km) south-southeast of Bujumbura, covering a combined area of approximately 135 square kilometers (km2). The mining permit covers an area of over 39 km2. It hosts various veins consisting of the minerals bastnaesite and/or monazite. Its subsidiaries include Rainbow Mining Burundi, Rainbow International Resources Ltd. and others.