RE: Gallium news18 Feb 2026 08:06
Rainbow Rare Earths (RBW) secured a US$50 million funding commitment from the U.S. International Development Finance Corporation (DFC) to support the development of its Phalaborwa project. This investment, announced at COP28, will be channeled via TechMet to advance the production of separated rare earth oxides in South Africa.
Key details regarding this investment:
Purpose: The funds are aimed at advancing the Phalaborwa Project, which extracts rare earth elements from phosphogypsum waste.
Funding Mechanism: The DFC's $50 million is part of a broader, strategic investment in the project, which is considered a key source of magnet metals outside of China.
Additional Funding: Separate from the DFC, Rainbow Rare Earths also secured an US$8.5 million royalty deal with Ecora Resources in 2024 to support the projectβs Definitive Feasibility Study.