In an interview with London South East, Rainbow Rare Earths' (RBW) CEO George Bennett explained that the new and exclusive licensing agreement he has just signed with Florida-based K-Technologies will 'give them a significant competitive advantage'. The licence is exclusive for the 'SADC' countries.
"The K-Tech process achieves the separation of rare earth oxides in fewer stages with greater flexibility, leading to significant capital and operating expenditure savings compared to traditional technology" explained George. "It's a much more cost effective and much more effective way of separating rare earths oxides."
The technology has been successfully piloted in Florida and George is planning to run a pilot scheme in Phalaborwa next year. "We believe the technology has been largely derisked and during our bankable feasibility study we will do pilot testing on the Phalaborwa product to make sure its 100% derisked before we build a plant to use this technology."
He said that he can't yet give us a break down of the operational and recovery benefits but he expects them to be 'significant'. Work on the Preliminary Economic Assessment or Scoping Study has been delayed by Covid in Australia but George hopes to release the study towards the end of November. The cost benefit analysis of the new separation technology will be disclosed in the PEA.
Rainbow Rare Earths (RBW)