31 Jan 2020 07:00
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31 January 2020
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
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Export of concentrate
Rainbow Rare Earths Ltd, the Rare Earth Element ("REE") mining company, is pleased to announce that it has exported a further 75 tonnes of concentrate grading at approximately 53% Total Rare Earth Oxides ("TREO"), of which 19.5% is Neodymium and Praseodymium ("NdPr").
As with previous shipments, this concentrate is being sold through its offtake partner thyssenkrupp Materials Trading GmbH.
Rainbow CEO George Bennett commented: "We are pleased that 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 that 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. "
George will be attending the Arlington Pre-daba from 31 January - 2 February, and the 121 Mining Investment Cape Town on 3 and 4 February, together with Rainbow's Chairman Adonis Pouroulis.
**ENDS**
For further information, please contact
Rainbow Rare Earths Ltd | Company | George Bennett Jim Wynn | +27 82 652 8526 +44 (0) 20 3910 4551 |
SP Angel Corporate Finance LLP | Joint Broker | Ewan Leggat Charlie Bouverat | +44 (0) 20 3470 0470 |
Turner Pope Investments | Joint Broker | Andy Thacker Zoe Alexander | +44 (0) 20 3657 0050 |
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Notes to Editors:
Rainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally and the only African producer.
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The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.