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(Alliance News) - Rainbow Rare Earths Ltd on Friday said it has exported another 75 tonnes of concentrate from its Gakara project in Burundi to be sold to offtake partner ThyssenKrupp Materials Trading GmbH.
Shares in the rare earth element miner were up 8.4% at 3.74 pence in London in midday trading.
The concentrate grading was around 53% total rare earth oxides, around 19.5% of which was neodymium and praseodymium. Rainbow is focused on producing and expanding Gakara, which has in-situ grades in the 47% to 67% total rare earth oxide range.
First production and sales to ThyssenKrupp began in the fourth quarter of 2017.
Rainbow Chief Executive George Bennett said: "We are pleased 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 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."
By Anna Farley; annafarley@alliancenews.com
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