We were delighted to have George Bennett, CEO at Rainbow Rare Earths (RBW) present at London South East on Tuesday 4.10.2022 a day after publishing RBW's Preliminary Economic Assessment for Phalaborwa.
AIM-Listed Rainbow Rare Earths published the PEA for the Phalaborwa Rare Earths Project in South Africa after just 20 months, and as expected the economics are stunning.
Rainbow is adapting tried and tested KTECH technology to extract Rare Earths from gypsum with total production of over 26,000 tonnes of separated Rare Earths predicted, generating $3.6 billion of revenue over 14.2 years.
George told us:
- The Phalaborwa ebitda margin is the highest of any Rare Earth project in the world
- Targeting commissioning late part of 2025 and full production 2026
- There are already two other opportunities where the Phalaborwa flow sheet will be applicable
- China currently controls 80% of Rare Earth production and 90/95% of seperation capability. The West needs to develop this and fast
- We will sign offtake agreements with China until the West catches up
Rainbow Rare Earths (RBW)