REG - Rainbow Rare Earths - Export of concentrate

Rainbow Rare EarthsAnnouncement

31/01/2020 07:00

RNS Number : 4894B
Rainbow Rare Earths Limited
31 January 2020
 


 
31 January 2020
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
 
Export of concentrate
Rainbow Rare Earths Ltd, the Rare Earth Element ("REE") mining company, is pleased to announce that it has exported a further 75 tonnes of concentrate grading at approximately 53% Total Rare Earth Oxides ("TREO"), of which 19.5% is Neodymium and Praseodymium ("NdPr").
As with previous shipments, this concentrate is being sold through its offtake partner thyssenkrupp Materials Trading GmbH.
Rainbow CEO George Bennett commented: "We are pleased that we are able to continue to produce high grade concentrate from our trial mining operations at Gakara. We have recently been trialling a more mechanised extraction of ore at lower grades, and the fact that we are still able to produce high-grade concentrate through our pilot plant underlines the benign mineralogy of our deposit, and bodes well for the design of a much larger bulk mining operation, which is well underway. "
George will be attending the Arlington Pre-daba from 31 January - 2 February, and the 121 Mining Investment Cape Town on 3 and 4 February, together with Rainbow's Chairman Adonis Pouroulis.
**ENDS**
For further information, please contact



Rainbow Rare Earths Ltd


Company


George Bennett
Jim Wynn


+27 82 652 8526
+44 (0) 20 3910 4551




SP Angel Corporate Finance LLP


Joint Broker


Ewan Leggat
Charlie Bouverat


+44 (0) 20 3470 0470




Turner Pope Investments


Joint Broker


Andy Thacker
Zoe Alexander


+44 (0) 20 3657 0050



 
Notes to Editors:
Rainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally and the only African producer.
 
The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.




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