Export of concentrate

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	[phone] [phone]
SP Angel Corporate Finance LLP	Joint Broker	Ewan Leggat Charlie Bouverat	[phone]
Turner Pope Investments	Joint Broker	Andy Thacker Zoe Alexander	[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 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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