Proactive Investors One2One Forum

RNS Number : 8704H

Rainbow Rare Earths Limited

15 March 2018

 

FOR IMMEDIATE RELEASE

15 March 2018

Rainbow Rare Earths Ltd ('Rainbow' or 'the Company')

Proactive Investors One2One Forum

Rainbow, the rare earth element mining company, is pleased to announce that the Company's CEO Martin Eales will be presenting at the Proactive Investors One2One Mining Forum on Thursday 22 March at 6.00pm at The Chesterfield Mayfair Hotel, 35 Charles Street, London, W1J 5EB.  

Martin Eales will be updating attendees on Rainbow's progress at the Company's Gakara Rare Earths project in Burundi ('Gakara') which is one of the highest grade rare earth projects in the world. In December 2017, production and sales of rare earth concentrate commenced at Gakara through its multinational sales and distribution partner, thyssenkrupp Raw Materials, part of the Thyssenkrupp Group.  An exploration drilling campaign is now underway with a view to potentially delivering a maiden JORC Resource in the second half of 2018 and reaching a production target run rate of 6,000 tpa during 2019.

Further details relating to this event can be found via the following link to the registration page, http://www.proactiveinvestors.co.uk/register/event_details/137.

**ENDS**

For further information, please contact:

Rainbow Rare Earths Ltd	Martin Eales	Tel: [phone]
St Brides Partners Ltd	Lottie Wadham Susie Geliher	Tel: [phone]
Arden Partners plc	Paul Shackleton Benjamin Cryer	Tel: [phone]
Hannam & Partners (Advisory) LLP	Neil Passmore Ben Newman-Sanders	Tel: [phone]

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 Company began production of rare earth concentrates in Q4 2017 and is currently ramping up to a targeted run rate of 5,000tpa by the end of 2018 and 6,000tpa by the end of 2019.  Rainbow has a ten-year distribution and offtake agreement with multinational thyssenkrupp Raw Materials secured for the sale of at least 5,000tpa of concentrate produced.

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.

 

END

 

 

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