August has been a busy announcement month for Rainbow Rare Earths Limited (RBW) with several significant updates emphasising the momentum building for the extractor of rare earth elements.

Partnerships have been struck with Moroccan phosphate producer OCP, and chief executive George Bennett has told investors work is now ongoing to finalise the preliminary economic assessment for its Phalaborwa Project in South Africa.

This is expected to be completed at the end of September / early October 2022 and being expedited by the optimisation of the economic processing flow sheet which points to significant capital and operating costs savings.

Bennett is delighted about the master agreement with OCP and Mohammed VI Polytechnic University as the parties will investigate and develop the optimal technique for the extraction of rare earth elements from phosphogypsum.