RCS - Rainbow Rare Earths - European Raw Material Alliance Membership

Rainbow Rare EarthsAnnouncement

16/08/2022 07:00

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RNS Number : 0937W  Rainbow Rare Earths Limited  16 August 2022

 

16 August 2022

 

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

 

European Raw Material Alliance Membership

 

Rainbow Rare Earths is pleased to announce it has become a member of the
European Raw Material Alliance ("ERMA"). ERMA is working to ensure reliable,
secure, and sustainable access to critical and strategic raw materials, with a
specific focus on the rare earth magnet chain. Aiming to make Europe
economically more resilient, ERMA is looking to diversify supply chains,
promote innovation, create jobs, and attract investment. By 2030, ERMA's
activities will increase the production of raw and advanced materials.

 

 

Rainbow CEO, George Bennett, commented:

"We are pleased to have been accepted as a member of ERMA - an essential
alliance which is working to accelerate the green and digital transition
through securing and reinforcing rare earths supply chains. With our near-term
development opportunity at Phalaborwa, alongside our unique and innovative
technologies and processes, Rainbow is well positioned to contribute to a
responsible supply chain, unlocking sources of critical permanent magnet rare
earths which are required to drive global decarbonisation."

 

**ENDS**

 

For further information, please contact:

 

 Rainbow Rare Earths Ltd         Company  George Bennett     +27 82 652 8526

                                          Pete Gardner
 SP Angel Corporate Finance LLP  Broker   Ewan Leggat        +44 (0) 20 3470 0470

                                          Charlie Bouverat
 Tavistock Communications        PR/IR    Charles Vivian     +44 (0) 20 7920 3150

                                          Tara Vivian-Neal   rainbowrareearths@tavistock.co.uk (mailto:rainbowrareearths@tavistock.co.uk)

 

About ERMA:

The European Raw Materials Alliance (ERMA) aims to make Europe economically
more resilient by diversifying its supply chains, creating jobs, attracting
investments to the raw materials value chain, fostering innovation, training
young talents and contributing to the best enabling framework for raw
materials and the Circular Economy worldwide.

The Alliance addresses the challenge of securing access to sustainable raw
materials, advanced materials, and industrial processing know-how. By 2030,
ERMA's activities will increase the production of raw and advanced materials
and address Circular Economy by boosting the recovery and recycling of
Critical Raw Materials. More specifically, the Alliance will:

·    Bolster the creation of environmentally sustainable and socially
equitable innovations and infrastructure.

·    Implement a Circular Economy of complex products like electric
vehicles, clean tech, and hydrogen equipment.

·    Support Europe's raw materials industry capability, to extract,
design, manufacture and recycle materials.

·    Promote innovation, strategic investment, and industrial production
across specific value chains.

About Rainbow Rare Earths:

Rainbow's strategy is to become a globally significant producer of rare earth
metals. Nd/Pr and Dy are vital components of the strongest permanent magnets
used for the motors and turbines driving the green technology revolution.
Analysts are predicting demand for magnet rare earth oxides will grow
substantially over the coming years, driven by increasing adoption of green
technology, pushing the overall market for Nd/Pr and Dy into deficit.

 

The Phalaborwa Rare Earths Project, located in South Africa, comprises an
Inferred Mineral Resource Estimate of 38.3Mt at 0.43% TREO contained within
gypsum tailings stacked in unconsolidated stacks derived from historic
phosphate hard rock mining. High-value NdPr oxide represents 29.1% of the
total contained rare earth oxides, with economic Dysprosium and Terbium oxide
credits enhancing the overall value of the rare earth basket in the stacks.
The rare earths are contained in chemical form in the gypsum stacks, which is
expected to allow high-value separated rare earth oxides to be produced with
lower operating costs than a typical rare earth mineral project.

 

The Company's Gakara Project in Burundi has produced one of the highest-grade
rare earth concentrates in the world (typically 54% total rare earths oxides
("TREO")) through trial mining operations. The Gakara basket is weighted
heavily towards Nd/Pr, which account for approximately 19.5% of the contained
TREO and 85% of the value of the concentrate. The Gakara project is currently
on care and maintenance at the request of the Government of Burundi.

 

You can find us at our website (https://rainbowrareearths.com/) , on Twitter
(https://twitter.com/RainbowREarths) , and LinkedIn
(https://www.linkedin.com/company/rainbow-rare-earths/) .

 

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